$SNPX
Synaptogenix, Inc.

2023 Q2 Form 10-Q Financial Statement

#000141057823001232 Filed on May 15, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.523M $2.044M
YoY Change -17.94% 13.79%
% of Gross Profit
Research & Development $307.2K $877.7K
YoY Change -84.17% -40.94%
% of Gross Profit
Depreciation & Amortization $1.720K $1.690K
YoY Change 24.64% 28.13%
% of Gross Profit
Operating Expenses $1.830M $2.922M
YoY Change -51.8% -10.99%
Operating Profit
YoY Change
Interest Expense -$2.057M $1.210M
YoY Change -4724.05% 26150.76%
% of Operating Profit
Other Income/Expense, Net -$2.264M $1.210M
YoY Change -5189.67% 26150.69%
Pretax Income -$4.094M -$1.712M
YoY Change 9.12% -47.78%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.094M -$1.712M
YoY Change 9.12% -47.78%
Net Earnings / Revenue
Basic Earnings Per Share $1.39 $0.26
Diluted Earnings Per Share $1.39 $0.26
COMMON SHARES
Basic Shares Outstanding 7.360M 7.355M
Diluted Shares Outstanding 7.361M 7.501M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $32.90M $35.78M
YoY Change 14.41% 14.38%
Cash & Equivalents $32.90M $35.80M
Short-Term Investments
Other Short-Term Assets $516.3K $726.3K
YoY Change -35.77% -30.99%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $33.42M $36.51M
YoY Change 13.05% 12.91%
LONG-TERM ASSETS
Property, Plant & Equipment $21.44K $22.49K
YoY Change 3.18% 17.6%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $21.44K $22.49K
YoY Change 3.18% 17.6%
TOTAL ASSETS
Total Short-Term Assets $33.42M $36.51M
Total Long-Term Assets $21.44K $22.49K
Total Assets $33.44M $36.53M
YoY Change 13.04% 12.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $439.1K $355.9K
YoY Change 56.36% -11.32%
Accrued Expenses $68.14K $538.9K
YoY Change -80.26% 101.11%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.773M $1.277M
YoY Change 342.93% 90.76%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.757M $1.067M
YoY Change
Total Long-Term Liabilities $3.757M $1.067M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $2.773M $1.277M
Total Long-Term Liabilities $3.757M $1.067M
Total Liabilities $6.530M $2.343M
YoY Change 943.11% 250.09%
SHAREHOLDERS EQUITY
Retained Earnings -$32.02M -$21.81M
YoY Change 51.24% 25.2%
Common Stock $738.00 $737.00
YoY Change 8.21% 8.06%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $24.83M $31.46M
YoY Change
Total Liabilities & Shareholders Equity $33.44M $36.53M
YoY Change 13.04% 12.91%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income -$4.094M -$1.712M
YoY Change 9.12% -47.78%
Depreciation, Depletion And Amortization $1.720K $1.690K
YoY Change 24.64% 28.13%
Cash From Operating Activities -$1.239M -$1.696M
YoY Change -50.89% -51.35%
INVESTING ACTIVITIES
Capital Expenditures $670.00 $2.038K
YoY Change -122.11%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$670.00 -$2.038K
YoY Change -77.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.641M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -1.239M -1.696M
Cash From Investing Activities -670.0 -2.038K
Cash From Financing Activities -1.641M 0.000
Net Change In Cash -2.881M -1.698M
YoY Change 14.01% -42.1%
FREE CASH FLOW
Cash From Operating Activities -$1.239M -$1.696M
Capital Expenditures $670.00 $2.038K
Free Cash Flow -$1.240M -$1.698M
YoY Change -50.81%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001571934
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
Synaptogenix, Inc.
CY2023Q1 dei Document Type
DocumentType
10-Q
CY2023Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2023Q1 dei Document Period End Date
DocumentPeriodEndDate
2023-03-31
CY2023Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2023Q1 dei Entity File Number
EntityFileNumber
001-40458
CY2023Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2023Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
46-1585656
CY2023Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
1185 Avenue of the Americas
CY2023Q1 dei Entity Address Address Line2
EntityAddressAddressLine2
3rd Floor
CY2023Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
New York
CY2023Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
NY
CY2023Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
10036
CY2023Q1 dei City Area Code
CityAreaCode
973
CY2023Q1 dei Local Phone Number
LocalPhoneNumber
242-0005
CY2023Q1 dei Security12b Title
Security12bTitle
Common Stock, $0.0001 par value per share
CY2023Q1 dei Trading Symbol
TradingSymbol
SNPX
CY2023Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2023Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023Q1 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023Q1 dei Entity Small Business
EntitySmallBusiness
true
CY2023Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2023Q1 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2023Q1 dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
7359871
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35780630
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
37478480
CY2023Q1 snpx Prepaid Clinical Trial Expenses
PrepaidClinicalTrialExpenses
139942
CY2022Q4 snpx Prepaid Clinical Trial Expenses
PrepaidClinicalTrialExpenses
367714
CY2023Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
586364
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
739467
CY2023Q1 us-gaap Assets Current
AssetsCurrent
36506936
CY2022Q4 us-gaap Assets Current
AssetsCurrent
38585661
CY2023Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22493
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22145
CY2023Q1 us-gaap Assets
Assets
36529429
CY2022Q4 us-gaap Assets
Assets
38607806
CY2023Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
355901
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
660206
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
538945
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
536714
CY2023Q1 us-gaap Dividends Payable Current
DividendsPayableCurrent
381964
CY2022Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
115890
CY2023Q1 us-gaap Liabilities Current
LiabilitiesCurrent
1276810
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
1312810
CY2023Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
922000
CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
1510000
CY2023Q1 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
144500
CY2022Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
370300
CY2023Q1 us-gaap Liabilities
Liabilities
2343310
CY2022Q4 us-gaap Liabilities
Liabilities
3193110
CY2023Q1 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
0.0001
CY2023Q1 snpx Temporary Equity Face Value Per Share
TemporaryEquityFaceValuePerShare
1000
CY2022 snpx Temporary Equity Face Value Per Share
TemporaryEquityFaceValuePerShare
1000
CY2023Q1 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
1000000
CY2022Q4 us-gaap Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
1000000
CY2023Q1 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
15000
CY2022Q4 us-gaap Temporary Equity Shares Issued
TemporaryEquitySharesIssued
15000
CY2023Q1 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
15000
CY2022Q4 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
15000
CY2023Q1 us-gaap Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
15000000
CY2023Q1 snpx Temporary Equity Liquidation Preference Percentage Of Accrued Dividends
TemporaryEquityLiquidationPreferencePercentageOfAccruedDividends
0.07
CY2023Q1 snpx Temporary Equity Liquidation Preference Amount Of Accrued Dividends
TemporaryEquityLiquidationPreferenceAmountOfAccruedDividends
381964
CY2023Q1 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
2721723
CY2022Q4 us-gaap Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
2721723
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
7359871
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
7359871
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
7267032
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
7267032
CY2023Q1 us-gaap Common Stock Value
CommonStockValue
737
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
728
CY2023Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
53273034
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
52523762
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-21809375
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-19831517
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
31464396
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
32692973
CY2023Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
36529429
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
38607806
CY2023Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
877717
CY2022Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1486074
CY2023Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2044224
CY2022Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1796458
CY2023Q1 us-gaap Operating Expenses
OperatingExpenses
2921941
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
3282532
CY2023Q1 us-gaap Interest Income Other
InterestIncomeOther
396357
CY2022Q1 us-gaap Interest Income Other
InterestIncomeOther
4610
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-588000
CY2023Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
225800
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
1210157
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
4610
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1711784
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3277922
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1711784
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-3277922
CY2023Q1 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
266074
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1977858
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3277922
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.26
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.26
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.47
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7501400
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7501400
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6939200
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6939200
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
33529748
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
711558
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
71603
CY2022Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
95851
CY2022Q1 snpx Stock Issued During Period Value Warrants Exercised
StockIssuedDuringPeriodValueWarrantsExercised
553150
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-3277922
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
31683988
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
32692973
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
644781
CY2023Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
104500
CY2023Q1 us-gaap Temporary Equity Dividends Adjustment
TemporaryEquityDividendsAdjustment
266074
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1711784
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
31464396
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-1711784
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-3277922
CY2023Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
644781
CY2022Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
711558
CY2023Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
-588000
CY2023Q1 snpx Fair Value Of Derivative Liability
FairValueOfDerivativeLiability
225800
CY2023Q1 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
104500
CY2022Q1 us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
95850
CY2022Q1 snpx Issuance Of Stock And Warrants For Services
IssuanceOfStockAndWarrantsForServices
71603
CY2023Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1690
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1319
CY2023Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-380875
CY2022Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-237759
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-304305
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-895156
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2231
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.27
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-430417
CY2023Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
15972
CY2022Q1 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-207484
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1695812
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3485406
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2038
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2038
CY2022Q1 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
553150
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
553150
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1697850
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-2932256
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37478480
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5795055
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35780630
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2862799
CY2023Q1 us-gaap Temporary Equity Accretion Of Dividends
TemporaryEquityAccretionOfDividends
266074
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Note 1 – Organization, Business, Risks and Uncertainties:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Organization and Business</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On May 17, 2020, Neurotrope, Inc. (“Neurotrope” or “the Parent”) announced plans for the complete legal and structural separation of its wholly owned subsidiary, Neurotrope Bioscience, Inc., from Neurotrope (the “Spin-Off”). Under the Separation and Distribution Agreement, Neurotrope planned to distribute all of its equity interest in this wholly owned subsidiary to Neurotrope’s stockholders. Following the Spin-Off, Neurotrope does not own any equity interest in the Company, and the Company operates independently from Neurotrope. On December 7, 2020, the Company became an independent company, Synaptogenix, Inc., a Delaware corporation (formerly known as Neurotrope Bioscience, Inc.) (the “Company” or “Synaptogenix”) when the Company filed an amended and restated certificate of incorporation which, among other things, changed its name to Synaptogenix, Inc. The Company’s shares of common stock, par value $0.0001 per share (the “Common Stock”), are listed on The Nasdaq Capital Market under the symbol “SNPX.”</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Neurotrope Bioscience, Inc. was incorporated in Delaware on October 31, 2012 to advance new therapeutic and diagnostic technologies in the field of neurodegenerative disease, primarily Alzheimer’s disease (“AD”). The Company is collaborating with Cognitive Research Enterprises, Inc. (formerly known as the Blanchette Rockefeller Neurosciences Institute, or BRNI) (“CRE”), a related party, in this process. The exclusive rights to certain technology were licensed by CRE to the Company on February 28, 2013 (see Note 4 - Related Party Transactions).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">In connection with the separation from Neurotrope, the Company entered into a Separation and Distribution Agreement and several other ancillary agreements. These agreements govern the relationship between the parties after the separation and allocate between the parties’ various assets, liabilities, rights and obligations following the separation, including employee benefits, intellectual property, information technology, insurance and tax-related liabilities.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">On December 16, 2022, the Company issued a press release announcing that an extended confirmatory Phase 2 study of Bryostatin-1 in moderate to severe AD (Study #204) did not achieve statistical significance on the primary endpoint, which was changed from baseline to Week 13 in the Severe Impairment Battery (“SIB”) total score assessment obtained after completion of the second seven-dose course of treatment (week 28 of trial). On March 7, 2023, the Company announced results of its analysis of secondary endpoints and post hoc analysis from our Phase 2 study of Bryostatin-1. In the secondary endpoint analysis, changes from baseline at Weeks 9, 20, 24, 30, and 42 in the SIB (Severe Impairment Battery) total score were not statistically significant in the total patient population, and no pre-specified secondary endpoints were met with statistical significance in the low-to-moderately severe AD patient stratum. However, nearly all pre-specified secondary endpoints in the most advanced and severe AD (Mini Mental State Exam 2 (“MMSE”) (baseline scores: 10-14) patient population, with baseline MMSE-2 (Mini-Mental State Examination, 2nd Edition) scores of 10-14, were achieved with statistical significance (p = &lt;0.05, 2-tailed). Data also showed statistical significance in exploratory secondary endpoints for the MMSE-2 10-14 stratum, and post hoc analysis was positive.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Liquidity Uncertainties</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">As of March 31, 2023, the Company had approximately $35.8 million in cash and cash equivalents as compared to $37.5 million at December 31, 2022. The Company expects that its current cash and cash equivalents, approximately $35 million as of the date of this Quarterly Report on Form 10-Q, will be sufficient to support its projected operating requirements for at least the next 12 months from this date. The operating requirements include the current development plans for Bryostatin-1, our novel drug candidate targeting the activation of Protein Kinase C Epsilon and other development projects.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The Company expects to need additional capital in order to initiate and pursue potential additional development projects, including the continuing development beyond the ongoing Phase 2 trial of Bryostatin-1. Any additional equity financing, if available, </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">may not be on favorable terms and would likely be significantly dilutive to the Company’s current stockholders, and debt financing, if available, may involve restrictive covenants. If the Company is able to access funds through collaborative or licensing arrangements, it may be required to relinquish rights to some of its technologies or product candidates that the Company would otherwise seek to develop or commercialize on its own, on terms that are not favorable to the Company. The Company’s ability to access capital when needed is not assured and, if not achieved on a timely basis, will likely have a materially adverse effect on our business, financial condition and results of operations.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Other Risks and Uncertainties</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company operates in an industry that is subject to rapid technological change, intense competition, and significant government regulation. The Company’s operations are subject to significant risk and uncertainties including financial, operational, technological and regulatory. Such factors include, but are not necessarily limited to, the results of clinical testing and trial activities, the ability to obtain regulatory approval, the limited supply of raw materials, the ability to obtain favorable licensing, manufacturing or other agreements, including risk associated with our CRE licensing agreement, and the ability to raise capital to achieve strategic objectives.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">CRE has entered into a material transfer agreement with the National Cancer Institute of the National Institutes of Health (“NCI”), pursuant to which the NCI has agreed to supply bryostatin required for the Company’s pre-clinical research and clinical trials. This agreement does not provide for a sufficient amount of bryostatin to support the completion of all of the clinical trials that the Company is required to conduct in order to seek U.S. Food and Drug Administration (“FDA”) approval. Therefore, CRE or the Company would have to enter into one or more subsequent agreements with the NCI for the supply of additional amounts of bryostatin. If CRE or the Company were unable to secure such additional agreements, or if the NCI otherwise discontinues the supply, the Company would have to either secure another source of bryostatin or discontinue its efforts to develop and commercialize Bryostatin-1 for the treatment of AD. In June 2020, the Company entered into a supply agreement (the “Supply Agreement”) with BryoLogyx Inc. (“BryoLogyx”), pursuant to which BryoLogyx agreed to be the Company’s exclusive supplier of synthetic bryostatin. Pursuant to the terms of the Supply Agreement, the Company received its initial order of one gram synthetic bryostatin. See Note 3.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The Company also faces the ongoing risk that the coronavirus pandemic may slow, for an unforeseeable period, the conduct of the Company’s trial. In order to prioritize patient health and that of the investigators at clinical trial sites, we will monitor enrollment of new patients in our current Phase 2 clinical trial. In addition, some patients may be unwilling to enroll in our trials or be unable to comply with clinical trial protocols if quarantines or travel restrictions impede patient movement or interrupt healthcare services. These and other factors outside of our control could delay our ability to conduct clinical trials or release clinical trial results. In addition, the effects of a pandemic resurgence may also increase non-trial costs such as insurance premiums, increase the demand for and cost of capital, increase loss of work time from key personnel, and negatively impact our key clinical trial vendors and suppliers.</p>
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
35800000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
37500000
CY2023Q1 snpx Cash And Cash Equivalents Expected Amount At Financial Reporting Date
CashAndCashEquivalentsExpectedAmountAtFinancialReportingDate
35000000
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">The preparation of financial statements in conformity with GAAP requires management to make significant estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of expenses during the reporting period. Management evaluates its estimates on an ongoing basis using historical experience and other factors, including the general economic environment and actions it may take in the future. The Company adjusts such estimates when facts and circumstances dictate. However, these estimates may involve significant uncertainties and judgments and </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">cannot be determined with precision. In addition, these estimates are based on management’s best judgment at a point in time and as such these estimates may ultimately differ from actual results.</p>
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y6M
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
80000
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.87
CY2023Q1 snpx Share Based Compensation Arrangement By Share Based Payment Award Options Granted Weighted Average Remaining Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm
P10Y
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
741850
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.15
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y4M24D
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P9Y1M6D
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7921769
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6835825
CY2023Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
600000
CY2023Q1 us-gaap Cash Uninsured Amount
CashUninsuredAmount
35200000
CY2023Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P2Y
CY2023Q1 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
50000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
395925
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
7.27
CY2023Q1 snpx Capitalized Research And Development Services
CapitalizedResearchAndDevelopmentServices
0
CY2022Q4 snpx Capitalized Research And Development Services
CapitalizedResearchAndDevelopmentServices
0
CY2023Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
91000000
CY2023Q1 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
26800000
CY2023Q1 snpx Grant Related Expense Reductions Recognized
GrantRelatedExpenseReductionsRecognized
0
CY2022Q1 snpx Grant Related Expense Reductions Recognized
GrantRelatedExpenseReductionsRecognized
100000
CY2017Q1 snpx Annual License Maintenance Fee
AnnualLicenseMaintenanceFee
10000
CY2017Q1 snpx Commitment To Pay Fees
CommitmentToPayFees
2100000
CY2023Q1 snpx Number Of Statements Of Work Agreements Entered
NumberOfStatementsOfWorkAgreementsEntered
0
CY2021 snpx Number Of Statements Of Work Agreements Entered
NumberOfStatementsOfWorkAgreementsEntered
0
CY2022 snpx Number Of Statements Of Work Agreements Entered
NumberOfStatementsOfWorkAgreementsEntered
0
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2023Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1000000
CY2023Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q1 snpx Number Of Votes Per Share Owned
NumberOfVotesPerShareOwned
1
CY2022Q4 snpx Percentage Of Common Stock Shares Agreed To Register Under November Registration Rights Agreement
PercentageOfCommonStockSharesAgreedToRegisterUnderNovemberRegistrationRightsAgreement
2
CY2023Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
225800
CY2022 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
625000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
625000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
661850
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0
CY2023Q1 us-gaap Share Price
SharePrice
0.80
CY2022Q4 us-gaap Share Price
SharePrice
1.16
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
379000
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P0Y3M3D
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
644781
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
36374
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
6265525
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
2028762
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
65000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Expirations
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExpirations
1049368
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
7179919
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
7179919
CY2023Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.79
CY2023Q1 snpx Warrants And Rights Outstanding Remaining Term
WarrantsAndRightsOutstandingRemainingTerm
P3Y4M28D
CY2023Q1 snpx Intrinsic Value Of Warrants
IntrinsicValueOfWarrants
116000
CY2023Q1 snpx Class Of Warrant Or Rights Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightsNumberOfSecuritiesCalledByWarrantsOrRights
0.80
CY2023Q1 snpx Number Of Warrant Holders Who Exercised Warrants
NumberOfWarrantHoldersWhoExercisedWarrants
0

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
0001410578-23-001232-index-headers.html Edgar Link pending
0001410578-23-001232-index.html Edgar Link pending
0001410578-23-001232.txt Edgar Link pending
0001410578-23-001232-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
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
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
snpx-20230331.xsd Edgar Link pending
snpx-20230331x10q.htm Edgar Link pending
snpx-20230331xex10d1.htm Edgar Link pending
snpx-20230331xex10d2.htm Edgar Link pending
snpx-20230331xex31d1.htm Edgar Link pending
snpx-20230331x10q_htm.xml Edgar Link completed
snpx-20230331xex31d2.htm Edgar Link pending
snpx-20230331xex32d1.htm Edgar Link pending
snpx-20230331xex32d2.htm Edgar Link pending
snpx-20230331xex3d2.htm Edgar Link pending
snpx-20230331_cal.xml Edgar Link unprocessable
snpx-20230331_def.xml Edgar Link unprocessable
snpx-20230331_lab.xml Edgar Link unprocessable
snpx-20230331_pre.xml Edgar Link unprocessable