$SLRX
Salarius Pharmaceuticals, Inc.

2019 Q3 Form 10-Q Financial Statement

#000161521919000024 Filed on July 17, 2019

View on sec.gov

Income Statement

Concept 2019 Q3 2019 Q2 2018 Q4
Revenue $874.9K $895.8K $163.1K
YoY Change 86.54% 264.88% -42.34%
Cost Of Revenue $36.15K $74.93K
YoY Change -79.91% -43.8%
Gross Profit $859.6K $88.13K
YoY Change 1211.27% -41.04%
Gross Profit Margin 95.96% 54.05%
Selling, General & Admin $3.490M $970.0K $1.820M
YoY Change 85.64% -65.11% -54.27%
% of Gross Profit 112.84% 2065.06%
Research & Development $1.141M $840.1K $187.8K
YoY Change 222.65% -86.39% -95.59%
% of Gross Profit 97.73% 213.04%
Depreciation & Amortization $0.00 $10.00K $50.00K
YoY Change -100.0% -83.33% -28.57%
% of Gross Profit 1.16% 56.73%
Operating Expenses $4.635M $1.808M $2.184M
YoY Change 492.3% -80.66% -73.92%
Operating Profit -$3.760M -$912.1K -$2.021M
YoY Change 1099.36% -89.98% -75.03%
Interest Expense -$752.00 $8.457K $10.00K
YoY Change -112.4% -83.09% -83.33%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income -$2.630M -$900.0K -$2.010M
YoY Change -0.38% -90.06% -74.97%
Income Tax
% Of Pretax Income
Net Earnings -$2.628M -$903.6K -$2.009M
YoY Change 754.68% -912.39% -74.98%
Net Earnings / Revenue -300.33% -100.88% -1231.85%
Basic Earnings Per Share
Diluted Earnings Per Share -$728.5K -$298.0K -$2.792M
COMMON SHARES
Basic Shares Outstanding 18.07M shares 18.07M shares 18.07M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q3 2019 Q2 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.000M $6.500M $9.800M
YoY Change -69.23% -58.86% -70.57%
Cash & Equivalents $4.000M $6.514M $3.228M
Short-Term Investments $0.00
Other Short-Term Assets $119.0K $400.0K $22.27K
YoY Change -76.21% -55.56% -97.22%
Inventory $130.9K $186.9K
Prepaid Expenses
Receivables $28.28K $9.939K
Other Receivables $0.00 $0.00
Total Short-Term Assets $5.239M $7.109M $6.381M
YoY Change -61.71% -57.95% -81.52%
LONG-TERM ASSETS
Property, Plant & Equipment $28.14K $27.95K $37.53K
YoY Change -77.86% -84.47% -88.66%
Goodwill $8.866M $0.00
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $324.5K $195.4K
YoY Change 224.51%
Total Long-Term Assets $9.219M $27.95K $233.0K
YoY Change 3533.86% -90.88% -49.1%
TOTAL ASSETS
Total Short-Term Assets $5.239M $7.109M $6.381M
Total Long-Term Assets $9.219M $27.95K $233.0K
Total Assets $14.46M $7.137M $6.614M
YoY Change 3.73% -58.53% -81.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.643M $805.5K $379.8K
YoY Change 28.44% -29.67% -81.05%
Accrued Expenses $200.0K $200.0K $800.0K
YoY Change -87.5% -92.31% -78.38%
Deferred Revenue $1.580M $4.007M
YoY Change 5450.44%
Short-Term Debt $700.0K $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.700M $1.036M $1.107M
YoY Change 62.75% -72.68% -81.07%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.700M $1.036M $1.107M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $4.721M $1.036M $7.885M
YoY Change 63.47% -72.75% 33.94%
SHAREHOLDERS EQUITY
Retained Earnings -$10.19M -$136.6M -$5.140M
YoY Change -92.22% 6.44% -95.37%
Common Stock $3.756K $1.807K $203.00
YoY Change 107.86% 0.0% -88.6%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.737M $732.9K -$1.271M
YoY Change
Total Liabilities & Shareholders Equity $14.46M $7.137M $6.614M
YoY Change 3.73% -58.53% -81.1%

Cashflow Statement

Concept 2019 Q3 2019 Q2 2018 Q4
OPERATING ACTIVITIES
Net Income -$2.628M -$903.6K -$2.009M
YoY Change 754.68% -912.39% -74.98%
Depreciation, Depletion And Amortization $0.00 $10.00K $50.00K
YoY Change -100.0% -83.33% -28.57%
Cash From Operating Activities -$5.540M -$1.530M -$3.140M
YoY Change 98.57% -81.48% -45.39%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $5.610M $0.00
YoY Change -100.0%
Cash From Investing Activities $5.610M $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -210.0K -100.0K 0.000
YoY Change -242.86%
NET CHANGE
Cash From Operating Activities -5.540M -1.530M -3.140M
Cash From Investing Activities 5.610M 0.000
Cash From Financing Activities -210.0K -100.0K 0.000
Net Change In Cash -140.0K -1.630M -3.140M
YoY Change -94.98% -73.67% 188.07%
FREE CASH FLOW
Cash From Operating Activities -$5.540M -$1.530M -$3.140M
Capital Expenditures $0.00
Free Cash Flow -$3.140M
YoY Change -45.3%

Facts In Submission

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74460 USD
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27954 USD
CY2018Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6174589 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
10854770 USD
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
29294 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
31000 USD
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
126595 USD
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
0 USD
us-gaap Restructuring Charges
RestructuringCharges
1765000 USD
CY2019Q2 us-gaap Restructuring Charges
RestructuringCharges
0 USD
us-gaap Restructuring Charges
RestructuringCharges
-11000 USD
CY2018Q4 us-gaap Restructuring Reserve
RestructuringReserve
68593 USD
CY2019Q2 us-gaap Restructuring Reserve
RestructuringReserve
0 USD
CY2018Q4 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
68593 USD
CY2019Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
0 USD
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-132961275 USD
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-136576482 USD
CY2018Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
245502 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
424084 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
164705 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
269682 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1419933 USD
us-gaap Share Based Compensation
ShareBasedCompensation
433522 USD
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P48M
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1346425 shares
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.11
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
23945 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0 shares
CY2018Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
654544 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2320981 shares
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2297036 shares
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
CY2018Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.10
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.10
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0 USD
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
2297036 shares
CY2019Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
4.10
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
4.41
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.00
CY2019Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0 USD
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y18D
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y7M10D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M10D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y1M10D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2018Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2018Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2019Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2019Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0 USD
CY2018Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
54913 USD
CY2018Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
63097 USD
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
29105888 USD
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
21888071 USD
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
13410196 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
9282756 USD
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
7273301 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
6101071 USD
CY2018Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
18037274 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
17965989 shares
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
18068429 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
18068120 shares
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an ongoing basis, the Company's management evaluates its estimates, which include, but are not limited to, estimates related to clinical study accruals, estimates related to inventory realizability, stock-based compensation expense and amounts of expenses during the reported period. The Company bases its estimates on historical experience and other market-specific or other relevant assumptions that it believes to be reasonable under the circumstances. Actual results may differ from those estimates or assumptions.</font></div></div>

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