2022 Q4 Form 10-Q Financial Statement

#000121390022071557 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $0.00 $951.0K $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.485M $163.0K $939.0K
YoY Change 6.76% -82.64% 192.52%
% of Gross Profit
Research & Development $3.840M $4.803M $3.776M
YoY Change 182.15% 27.2% 1142.11%
% of Gross Profit
Depreciation & Amortization $2.000K $1.000K
YoY Change 100.0%
% of Gross Profit
Operating Expenses $5.325M $6.505M $4.715M
YoY Change 93.5% 37.96% 654.4%
Operating Profit -$5.554M -$4.715M
YoY Change 17.79%
Interest Expense -$3.000K $3.000K -$55.00K
YoY Change -105.45% -28.57%
% of Operating Profit
Other Income/Expense, Net $0.00 -$3.000K -$431.0K
YoY Change -99.3%
Pretax Income -$5.328M -$5.557M -$5.201M
YoY Change 93.6% 6.84% 640.88%
Income Tax
% Of Pretax Income
Net Earnings -$5.328M -$5.557M -$5.201M
YoY Change 93.6% 6.84% 640.88%
Net Earnings / Revenue -584.33%
Basic Earnings Per Share -$0.37 -$0.37
Diluted Earnings Per Share -$0.35 -$0.37 -$367.1K
COMMON SHARES
Basic Shares Outstanding 15.09M shares 15.05M shares 14.17M shares
Diluted Shares Outstanding 15.06M shares 14.17M shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $455.0K $7.010M $18.01M
YoY Change -97.26% -61.08% 28488.89%
Cash & Equivalents $455.0K $7.010M $18.01M
Short-Term Investments
Other Short-Term Assets $2.189M $2.952M $1.771M
YoY Change 19.49% 66.69% 1035.26%
Inventory $2.189M $2.952M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.644M $9.962M $19.78M
YoY Change -85.64% -49.64% 8932.88%
LONG-TERM ASSETS
Property, Plant & Equipment $22.00K $24.00K
YoY Change -21.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $174.0K $215.0K $0.00
YoY Change -47.75%
TOTAL ASSETS
Total Short-Term Assets $2.644M $9.962M $19.78M
Total Long-Term Assets $174.0K $215.0K $0.00
Total Assets $2.818M $10.18M $19.78M
YoY Change -84.97% -48.55% 8932.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $892.0K $2.292M $49.00K
YoY Change 20.22% 4577.55% -77.31%
Accrued Expenses $2.237M $3.065M $633.0K
YoY Change 84.57% 384.2% 681.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $103.0K
YoY Change -100.0% -87.11%
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $3.284M $5.522M $785.0K
YoY Change 56.01% 603.44% -62.26%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $29.00K
YoY Change -100.0%
Total Long-Term Liabilities $0.00 $29.00K $0.00
YoY Change -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.284M $5.522M $785.0K
Total Long-Term Liabilities $0.00 $29.00K $0.00
Total Liabilities $3.284M $5.551M $785.0K
YoY Change 45.31% 607.13% -62.26%
SHAREHOLDERS EQUITY
Retained Earnings -$34.00M -$28.67M
YoY Change 113.29%
Common Stock $15.00K $15.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$466.0K $4.626M $19.00M
YoY Change
Total Liabilities & Shareholders Equity $2.818M $10.18M $19.78M
YoY Change -84.97% -48.55% 8932.88%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$5.328M -$5.557M -$5.201M
YoY Change 93.6% 6.84% 640.88%
Depreciation, Depletion And Amortization $2.000K $1.000K
YoY Change 100.0%
Cash From Operating Activities -$6.084M -$3.563M -$3.474M
YoY Change 333.64% 2.56% 392.07%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $22.27M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -471.0K 0.000 21.48M
YoY Change -100.0% 2697.4%
NET CHANGE
Cash From Operating Activities -6.084M -3.563M -3.474M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities -471.0K 0.000 21.48M
Net Change In Cash -6.555M -3.563M 18.01M
YoY Change 357.75% -119.78% 28948.39%
FREE CASH FLOW
Cash From Operating Activities -$6.084M -$3.563M -$3.474M
Capital Expenditures $0.00 $0.00
Free Cash Flow -$6.084M -$3.563M
YoY Change 342.79%

Facts In Submission

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Use of Estimates</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the periods presented. Management believes that these estimates and assumptions are reasonable; however, actual results may differ and could have a material effect on future results of operations and financial position. Significant items subject to such estimates and assumptions include progress estimates for material third party research and development contracts, stock-based compensation and fair value of the Company’s common stock prior to the Company’s IPO. Actual results may materially differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Concentration of Credit Risk</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash. All of the Company’s cash was deposited in one account at a financial institution, and the account balance may at times exceed federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial strength of the depository institution in which the cash is held.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p>
uncy Income Tax Largest Amount
IncomeTaxLargestAmount
0.50 pure
CY2022Q3 us-gaap Discontinued Operation Amounts Of Material Contingent Liabilities Remaining
DiscontinuedOperationAmountsOfMaterialContingentLiabilitiesRemaining
100000 usd
CY2022Q3 us-gaap Defined Benefit Plan Funded Percentage
DefinedBenefitPlanFundedPercentage
0.10 pure
CY2022Q3 us-gaap Prepaid Insurance
PrepaidInsurance
222000 usd
CY2021Q4 uncy Prepaid Preclinical Services
PrepaidPreclinicalServices
885000 usd
CY2022Q3 uncy Prepaid Preclinical Services
PrepaidPreclinicalServices
2661000 usd
CY2021Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
126000 usd
uncy Significant Agreements Policies
SignificantAgreementsPolicies
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>3. Significant Agreements</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">With regards to manufacturing, testing and potential commercial supply of Renazorb, the Company has entered into an agreement with Shilpa Medicare Ltd based in India. According to the terms of the agreement Unicycive will pay the vendor $2 million in the first calendar year when the net revenue reaches $10 million from sales of Renazorb following its approval by the FDA and commercial supply of the product by the vendor (First Payment). Thereafter, the Company will pay $2 million per year for four consecutive years, after the first year’s payment, for the total payments of $10 million, provided all commercial supplies are continued to be manufactured and supplied by the vendor. Unicycive is not obligated to make any payments to the vendor until FDA approval of the product is obtained and commercial revenue is generated.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In October 2017, the Company entered into an exclusive license agreement with Sphaera, a stockholder, for the rights to further develop the drug candidate, UNI 494, for commercialization. No payments were made upon execution of the agreement but rather payments for $50,000 will be due commencing with the initiation by the Company of a second clinical trial and $50,000 on completion of such trial. At the time the FDA accepts a NDA application submitted by the Company for the product, the Company will pay Sphaera $1.65 million. Upon commercialization and sale of the drug product, royalty payments will also be payable quarterly to Sphaera equal to 2% of net sales on the preceding quarter.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In September 2018, the Company entered into an Assignment and Asset Purchase Agreement with Spectrum Pharmaceuticals, Inc. (“Spectrum Agreement”) pursuant to which the Company purchased certain assets from Spectrum, including Spectrum’s right, title, interest in and intellectual property related to Renazorb RZB 012, also known as RENALAN™ (“Renalan”) and RZB 014, also known as SPI 014 (“SPI” and together with Renalan, the “Compounds”), to further develop and commercialize Renazorb and related compounds. In partial consideration for the Spectrum Agreement, the Company issued 313,663 shares of common stock to Spectrum valued at approximately $4,000 which represented four percent of the Company on a fully-diluted basis at the date of the execution of the Spectrum Agreement. The Spectrum Agreement has an anti-dilution provision, which provides that Spectrum maintain its ownership interest in the Company at 4% of the Company’s shares on a fully-diluted basis. Fully-diluted shares of common stock for purposes of the Renazorb Purchase Agreement assumes conversion of any security convertible into or exchangeable or exercisable for common stock or any combination thereof, including any common stock reserved for issuance under a stock option plan, restricted stock plan, or other equity incentive plan approved by the Board of Directors of the Company immediately following the issuance of additional shares of the Company’s common stock (but prior to the issuance of any additional shares of common stock to Spectrum). Spectrum’s ownership shall not be subject to dilution until the earlier of thirty-six months from the first date the Company’s stock trades on a public market, or the date upon which the Company attains a public market capitalization of at least $50 million. On July 13, 2021, the Company’s initial public offering resulted in a public market capitalization of at least $50 million, and as a result the Company was required to issue 438,374 anti-dilution shares of common stock. This issuance represented the final anti-dilution calculation required under the Spectrum Agreement, and no further anti-dilution shares will be issued. The Company calculated the fair value of the shares and recognized $2.2 million to research and development expenses as cost to issue those shares during the third quarter of 2021. The Company is also required to pay Spectrum 40% of all of the Company’s sublicense income for any sublicense granted to certain sublicensees during the first 12 months after the Closing Date (as that term is defined in the Renazorb Purchase Agreement) and 20% of all other sublicense income. The Company’s payment obligations to Spectrum will expire on the twentieth (20<sup>th</sup>) anniversary of the Closing Date of the Renazorb Purchase Agreement. In August 2022, the Company received an upfront payment of approximately $1.0 million as a result of a sublicense development agreement with Lee’s Pharmaceutical (HK) Limited. The payment represents sublicense income as described in the Spectrum Agreement, and 20% of the amount received has been accrued as an R&amp;D expense in the accompanying statements of operations for the three and nine months ended September 30, 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 19, 2021, the Company entered into an agreement with Syneos Health LLC (“Syneos”) pursuant to which Syneos will provide preclinical research and analysis services related to the development of UNI-494. The budget for the services, which also includes clinical pharmacology, translational sciences, and bioanalytical services, is approximately $2.3 million. Related payments totaling approximately $1.2 million have been paid to Syneos as of September 30, 2022, approximately $2.0 million of related expense has been recorded, and approximately $0.8 million has been recorded as accounts payable or accrued expense in the accompanying balance sheet as of September 30, 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 6, 2022, the Company entered into a Master Services Agreement with Quotient Sciences Limited (“Quotient”), a UK based company that provides drug development and analysis services, for the purpose of performing clinical research in support of UNI-494. The budget for the study is approximately $3.7 million. Related payments totaling approximately $1.3 million have been paid to Quotient as of September 30, 2022, approximately $0.5 million of related expense has been recorded, and approximately $0.8 million has been recorded as prepaid expense in the accompanying balance sheet as of September 30, 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 9, 2022, the Company entered into a Master Services Agreement with CBCC Global Research Inc. (“CBCC”), a California based company that provides clinical trial and related services, for the purpose of performing clinical research in support of Renazorb. The budget for the initial study was approximately $1.4 million. Payments relating to the initial agreement totaling approximately $0.3 million have been paid to CBCC as of September 30, 2022, and approximately $0.4 million of related expense has been recorded. In September 2022, a statement of work revised the remaining services budget to approximately $0.1 million.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 29, 2022, the Company entered into an Agreement with Inotiv, an Indiana based company that provides preclinical trial and related services, for the purpose of performing research in support of Renazorb. The budget for the services is approximately $1.0 million. Approximately $0.3 million has been paid to Inotiv as of September 30, 2022 and approximately $0.2 million has been recorded as prepaid expense in the accompanying balance sheet as of September 30, 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 14, 2022, the Company entered into a license agreement with Lee’s Pharmaceutical (HK) Limited (see Note 4). Under the terms of the agreement, Lee’s Pharmaceutical will be responsible for development, registration filing and approval for Renazorb in China, Hong Kong, and certain other Asian markets. In addition, Lee’s Pharmaceutical will have sole responsibility for the importation of the drug product from the Company and for the costs of commercialization of Renazorb in the licensed territories. The Company has received an upfront payment of $1.0 million, expects to receive up to $1.0 million in milestone payments upon product launch in China and will be eligible for tiered royalties of between 7% and 10% upon achievement of prespecified regulatory and commercial achievements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On July 27, 2022, the Company entered into an Agreement with Celerion, a Nebraska based company that provides clinical trial and related services, for the purpose of performing research in support of Renazorb. The budget for the services is approximately $2.7 million. Approximately $0.8 million has been paid to Celerion as of September 30, 2022. $1.4 million has been recorded as prepaid expense with $0.6 million recorded in accounts payable based on contractual terms for future clinical services as of September 30, 2022.</p>
us-gaap Debt Instrument Description
DebtInstrumentDescription
According to the terms of the agreement Unicycive will pay the vendor $2 million in the first calendar year when the net revenue reaches $10 million from sales of Renazorb following its approval by the FDA and commercial supply of the product by the vendor (First Payment). Thereafter, the Company will pay $2 million per year for four consecutive years, after the first year’s payment, for the total payments of $10 million, provided all commercial supplies are continued to be manufactured and supplied by the vendor.
CY2017Q4 us-gaap Broadcasters License Agreement Commitments Description
BroadcastersLicenseAgreementCommitmentsDescription
No payments were made upon execution of the agreement but rather payments for $50,000 will be due commencing with the initiation by the Company of a second clinical trial and $50,000 on completion of such trial. At the time the FDA accepts a NDA application submitted by the Company for the product, the Company will pay Sphaera $1.65 million. Upon commercialization and sale of the drug product, royalty payments will also be payable quarterly to Sphaera equal to 2% of net sales on the preceding quarter.
CY2021Q3 us-gaap Capitalization Longterm Debt And Equity
CapitalizationLongtermDebtAndEquity
50000000 usd
CY2021Q3 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
IncrementalCommonSharesAttributableToEquityForwardAgreements
438374 shares
us-gaap Other Research And Development Expense
OtherResearchAndDevelopmentExpense
2200000 usd
uncy Purchase Agreement Description
PurchaseAgreementDescription
The Company is also required to pay Spectrum 40% of all of the Company’s sublicense income for any sublicense granted to certain sublicensees during the first 12 months after the Closing Date (as that term is defined in the Renazorb Purchase Agreement) and 20% of all other sublicense income. The Company’s payment obligations to Spectrum will expire on the twentieth (20th) anniversary of the Closing Date of the Renazorb Purchase Agreement.
CY2022Q3 us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
1000000 usd
CY2022Q3 uncy Royalties Percentage
RoyaltiesPercentage
0.07 pure
CY2022Q3 uncy Regulatory And Commercial Achievements Percentage
RegulatoryAndCommercialAchievementsPercentage
0.10 pure
us-gaap-sup Debt And Equity Securities And Foreign Currency Transaction Price Change Unrealized Gain Loss Operating Before Tax
DebtAndEquitySecuritiesAndForeignCurrencyTransactionPriceChangeUnrealizedGainLossOperatingBeforeTax
1000000 usd
CY2022Q3 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1000000 usd
us-gaap Revenue From Related Parties
RevenueFromRelatedParties
1000000 usd
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
821000 usd
CY2022Q3 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
69000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
1832000 usd
CY2022Q3 us-gaap Inventory Net
InventoryNet
2952000 usd
CY2021Q4 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
15000 usd
CY2022Q3 us-gaap Leasehold Improvements Gross
LeaseholdImprovementsGross
15000 usd
CY2021Q4 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
14000 usd
CY2022Q3 us-gaap Furniture And Fixtures Gross
FurnitureAndFixturesGross
15000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
29000 usd
CY2022Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
30000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1000 usd
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
28000 usd
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
24000 usd
CY2021Q4 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
713000 usd
CY2022Q3 us-gaap Accounts Payable Trade Current
AccountsPayableTradeCurrent
2216000 usd
CY2021Q4 uncy Credit Card Liability
CreditCardLiability
29000 usd
CY2022Q3 uncy Credit Card Liability
CreditCardLiability
76000 usd
CY2021Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
742000 usd
CY2022Q3 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
2292000 usd
CY2021Q4 uncy Accrued Labor Costs
AccruedLaborCosts
691000 usd
CY2022Q3 uncy Accrued Labor Costs
AccruedLaborCosts
1823000 usd
CY2021Q4 uncy Accrued Drug Development Costs
AccruedDrugDevelopmentCosts
369000 usd
CY2022Q3 uncy Accrued Drug Development Costs
AccruedDrugDevelopmentCosts
1115000 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
152000 usd
CY2022Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
127000 usd
CY2021Q4 us-gaap Accrued Reclamation Costs Current
AccruedReclamationCostsCurrent
1212000 usd
CY2022Q3 us-gaap Accrued Reclamation Costs Current
AccruedReclamationCostsCurrent
3065000 usd
CY2021Q3 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
6
us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
736773 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y6M14D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
4784193 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6
CY2021Q3 us-gaap Debt Instrument Increase Accrued Interest
DebtInstrumentIncreaseAccruedInterest
191000 usd
CY2021Q3 uncy Conversion Shares Issued Percentage
ConversionSharesIssuedPercentage
0.25 pure
uncy Received Advances From The Stockholder
ReceivedAdvancesFromTheStockholder
248000 usd
uncy Repaid Amounts Owed To The Stockholder
RepaidAmountsOwedToTheStockholder
1361000 usd
CY2017Q3 us-gaap Shares Issued
SharesIssued
62181 shares
CY2017Q3 us-gaap Share Price
SharePrice
0.013
us-gaap Professional And Contract Services Expense
ProfessionalAndContractServicesExpense
6000 usd
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2022Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q3 us-gaap Share Price
SharePrice
5
us-gaap Conversion Of Stock Shares Issued1
ConversionOfStockSharesIssued1
184193 shares
CY2022Q3 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
6
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
4784193 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P3Y9M14D
us-gaap Common Stock Voting Rights
CommonStockVotingRights
Each holder of shares of common stock shall be entitled to one vote for each share thereof held. 
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
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CY2020Q2 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
348837 shares
CY2021Q1 us-gaap Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
1767442 shares
CY2020 us-gaap Share Based Goods And Nonemployee Services Transaction Shares Approved For Issuance
ShareBasedGoodsAndNonemployeeServicesTransactionSharesApprovedForIssuance
465116 shares
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
17442 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1211068 shares
CY2021Q4 uncy Weighted Average Exercise Price Options Outstanding Beginning
WeightedAverageExercisePriceOptionsOutstandingBeginning
3.19
CY2022Q3 uncy Weighted Average Remaining Contractual Term Outstanding
WeightedAverageRemainingContractualTermOutstanding
P8Y7M28D
CY2021Q4 uncy Aggregate Intrinsic Value Outstanding Beginningin Dollars
AggregateIntrinsicValueOutstandingBeginninginDollars
321000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
19000 shares
uncy Number Of Shares Underlying Outstanding Options Options Exercised
NumberOfSharesUnderlyingOutstandingOptionsOptionsExercised
64671 shares
uncy Weighted Average Exercise Price Options Exercised
WeightedAverageExercisePriceOptionsExercised
0.34
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1165397 shares
CY2022Q3 uncy Weighted Average Exercises Price Outstanding Ending
WeightedAverageExercisesPriceOutstandingEnding
3.31
uncy Sharebased Compensation Arrangement By Sharebased Payments Award Options Exercisable Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentsAwardOptionsExercisableWeightedAverageRemainingContractualTerm2
P8Y3M10D
CY2022Q3 uncy Aggregate Intrinsic Value Outstanding Ending
AggregateIntrinsicValueOutstandingEnding
57000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
640747 shares
uncy Weighted Exercise Price Option Vested And Exercisable
WeightedExercisePriceOptionVestedAndExercisable
3.23
uncy Share Based Weighted Average Remaining Contractual Term Shares Vested And Exercisable
Share-basedWeightedAverageRemainingContractualTermSharesVestedAndExercisable
P7Y11M19D
uncy Aggregate Intrinsic Value Options Vested And Exercisable
AggregateIntrinsicValueOptionsVestedAndExercisable
57000 usd
uncy Grant Date Fair Value Of Options
GrantDateFairValueOfOptions
11000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Number Of Shares Period Increase Decrease
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNumberOfSharesPeriodIncreaseDecrease
1300000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y1M6D
CY2021Q1 uncy Description Of Consulting Exercised
DescriptionOfConsultingExercised
During the three months ended March 31, 2021, employees and consultants exercised a total of 383,721 stock options and the Company received $119,000 in proceeds. A portion of these options were exercised early (prior to vesting), and as of September 30, 2022, 11,726 of the options remained unvested. Proceeds received related to the unvested options of approximately $38,000 at September 30, 2022 were recorded in accrued liabilities on the accompanying balance sheets and will be reclassified to equity as vesting occurs, provided the employees and consultants continue to provide services to the Company. Proceeds received related to the vested portion of options of $51,000 and $22,000 were reclassified to equity during the nine-month periods ended September 30, 2021 and 2022, respectively. The vested portion of the exercises was 371,988 shares at September 30, 2022. 
uncy Loss On Debt Conversion
LossOnDebtConversion
usd
us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
usd
CY2021Q3 uncy Research And Development
ResearchAndDevelopment
167000 usd
CY2022Q3 uncy Research And Development
ResearchAndDevelopment
103000 usd
uncy Research And Development
ResearchAndDevelopment
623000 usd
uncy Research And Development
ResearchAndDevelopment
303000 usd
CY2021Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
72000 usd
CY2022Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
163000 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
112000 usd
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
547000 usd
CY2021Q3 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
239000 usd
CY2022Q3 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
266000 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
735000 usd
us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
850000 usd
uncy Expected Dividend
ExpectedDividend
0 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5949590 shares
CY2021Q4 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
shares
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.37
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5201000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5557000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-7265000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12730000 usd
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14167098 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15061995 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10538473 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15050389 shares
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.37
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.37
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.69
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.85
CY2021Q3 uncy Options To Purchase Common Stock
OptionsToPurchaseCommonStock
822457 shares
CY2022Q3 uncy Options To Purchase Common Stock
OptionsToPurchaseCommonStock
1165397 shares
uncy Options To Purchase Common Stock
OptionsToPurchaseCommonStock
822457 shares
uncy Options To Purchase Common Stock
OptionsToPurchaseCommonStock
1165397 shares
CY2021Q3 uncy Warrants To Purchase Common Stock
WarrantsToPurchaseCommonStock
4784193 shares
CY2022Q3 uncy Warrants To Purchase Common Stock
WarrantsToPurchaseCommonStock
4784193 shares
uncy Warrants To Purchase Common Stock
WarrantsToPurchaseCommonStock
4784193 shares
uncy Warrants To Purchase Common Stock
WarrantsToPurchaseCommonStock
4784193 shares
CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5606650 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5949590 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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uncy Related Party Service Fee Payable
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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