$RPHM
Reneo Pharmaceuticals Inc

2021 Q3 Form 10-Q Financial Statement

#000155837021011213 Filed on August 11, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 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 $3.434M $2.949M $880.0K
YoY Change 412.54% 235.11%
% of Gross Profit
Research & Development $9.318M $6.279M $2.817M
YoY Change 110.29% 122.9%
% of Gross Profit
Depreciation & Amortization $13.00K $10.00K $9.000K
YoY Change 44.44% 11.11%
% of Gross Profit
Operating Expenses $12.75M $9.228M $3.699M
YoY Change 150.09% 149.47%
Operating Profit -$12.75M -$9.228M -$3.699M
YoY Change 150.09% 149.47%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $17.00K $12.00K $10.00K
YoY Change 70.0% 20.0%
Pretax Income -$12.74M -$9.216M -$3.690M
YoY Change 150.2% 149.76%
Income Tax
% Of Pretax Income
Net Earnings -$12.74M -$9.216M -$3.687M
YoY Change 150.0% 149.96%
Net Earnings / Revenue
Basic Earnings Per Share -$0.52
Diluted Earnings Per Share -$522.0K -$431.4K -$0.15
COMMON SHARES
Basic Shares Outstanding 24.41M 24.29M
Diluted Shares Outstanding 24.40M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $157.7M $167.3M
YoY Change
Cash & Equivalents $126.4M $140.4M $16.34M
Short-Term Investments $31.33M $26.96M
Other Short-Term Assets $4.931M $3.810M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $162.7M $171.1M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $200.0K $85.00K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $78.00K $78.00K
YoY Change
Total Long-Term Assets $278.0K $163.0K
YoY Change
TOTAL ASSETS
Total Short-Term Assets $162.7M $171.1M
Total Long-Term Assets $278.0K $163.0K
Total Assets $162.9M $171.3M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.271M $434.0K
YoY Change
Accrued Expenses $5.082M $2.902M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.353M $3.336M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $382.0K $417.0K
YoY Change
Total Long-Term Liabilities $382.0K $417.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $6.353M $3.336M
Total Long-Term Liabilities $382.0K $417.0K
Total Liabilities $6.735M $3.753M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$74.10M -$61.40M
YoY Change
Common Stock $3.000K $3.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $156.2M $167.6M -$31.04M
YoY Change
Total Liabilities & Shareholders Equity $162.9M $171.3M
YoY Change

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$12.74M -$9.216M -$3.687M
YoY Change 150.0% 149.96%
Depreciation, Depletion And Amortization $13.00K $10.00K $9.000K
YoY Change 44.44% 11.11%
Cash From Operating Activities -$9.672M -$9.701M -$2.930M
YoY Change 68.21% 231.09%
INVESTING ACTIVITIES
Capital Expenditures -$77.00K -$6.000K $0.00
YoY Change -870.0%
Acquisitions
YoY Change
Other Investing Activities -$4.432M -$26.99M $1.000M
YoY Change -469.33% -2798.9%
Cash From Investing Activities -$4.509M -$27.00M $1.000M
YoY Change -478.91% -2799.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 222.0K 85.84M 0.000
YoY Change 344.0%
NET CHANGE
Cash From Operating Activities -9.672M -9.701M -2.930M
Cash From Investing Activities -4.509M -27.00M 1.000M
Cash From Financing Activities 222.0K 85.84M 0.000
Net Change In Cash -13.96M 49.15M -1.930M
YoY Change 209.51% -2646.48%
FREE CASH FLOW
Cash From Operating Activities -$9.672M -$9.701M -$2.930M
Capital Expenditures -$77.00K -$6.000K $0.00
Free Cash Flow -$9.595M -$9.695M -$2.930M
YoY Change 66.58% 230.89%

Facts In Submission

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us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="color:#231f20;font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="color:#231f20;">The preparation of the Company’s condensed consolidated financial statements requires management to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses and the disclosure in the Company’s condensed consolidated financial statements and accompanying notes. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. By their nature, estimates are subject to an inherent degree of uncertainty and, as such, actual results may differ from management’s estimates.</span></p>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2020Q2 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
CY2021Q2 us-gaap Impairment Of Investments
ImpairmentOfInvestments
0
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3197640
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6400420
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 Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
-590000
rphm Changed In Fair Value Of Share Based Performance Award
ChangedInFairValueOfShareBasedPerformanceAward
-227000
CY2021Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
363000
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
188000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
152000
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
103000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
83000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
85000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
69000
CY2021Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10000
CY2020Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
9000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
20000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
18000
CY2021Q2 rphm Accrued Development Expenses
AccruedDevelopmentExpenses
404000
CY2020Q4 rphm Accrued Development Expenses
AccruedDevelopmentExpenses
1443000
CY2021Q2 rphm Accrued Clinical Expenses
AccruedClinicalExpenses
1359000
CY2020Q4 rphm Accrued Clinical Expenses
AccruedClinicalExpenses
1019000
CY2021Q2 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
804000
CY2020Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
888000
CY2021Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
335000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
322000
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2902000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3672000
CY2021Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
5661861
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
935478
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.56
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y8M12D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2357285
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.42
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
95123
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 Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
418000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3197640
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.68
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
15334000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
687583
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue
2.67
rphm Share Based Compensation Arrangement By Share Based Payment Award Options Vested Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedWeightedAverageRemainingContractualTerm
P7Y3M18D
rphm Share Based Compensation Arrangement By Share Based Payment Award Options Vested Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedIntrinsicValue
4578000
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
2784843
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.39
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P9Y
CY2021Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
13758000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0067
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0100
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.712
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.717
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
P5Y9M18D
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
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
10.89
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.65
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.42
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.51
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
7300000
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y10M24D
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
854000
CY2020Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
88000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1325000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
180000
CY2021Q2 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y

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