2023 Q2 Form 10-Q Financial Statement

#000121390023040161 Filed on May 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $675.0K $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $193.0K $62.00K $1.485M
YoY Change 0.0% -96.13% 6.76%
% of Gross Profit
Research & Development $2.267M $3.030M $3.840M
YoY Change 21.88% 56.75% 182.15%
% of Gross Profit
Depreciation & Amortization $2.000K $2.000K $2.000K
YoY Change 0.0% 0.0% 100.0%
% of Gross Profit
Operating Expenses $4.322M $4.877M $5.325M
YoY Change 18.87% 37.89% 93.5%
Operating Profit -$4.322M -$4.202M
YoY Change 18.87%
Interest Expense $32.00K $12.00K -$3.000K
YoY Change
% of Operating Profit
Other Income/Expense, Net $282.0K -$10.38M $0.00
YoY Change
Pretax Income -$3.838M -$14.58M -$5.328M
YoY Change 5.56% 312.07% 93.6%
Income Tax
% Of Pretax Income
Net Earnings -$3.838M -$14.58M -$5.328M
YoY Change 5.56% 312.07% 93.6%
Net Earnings / Revenue -2159.26%
Basic Earnings Per Share -$0.29 -$0.97
Diluted Earnings Per Share -$0.29 -$0.97 -$0.35
COMMON SHARES
Basic Shares Outstanding 15.23M shares 15.23M shares 15.09M shares
Diluted Shares Outstanding 15.23M shares 15.23M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.82M $24.33M $455.0K
YoY Change 77.98% 78.65% -97.26%
Cash & Equivalents $18.82M $24.33M $455.0K
Short-Term Investments
Other Short-Term Assets $3.112M $1.852M $2.189M
YoY Change 56.62% 0.43% 19.49%
Inventory $3.112M $1.852M $2.189M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $21.93M $26.18M $2.644M
YoY Change 74.6% 69.32% -85.64%
LONG-TERM ASSETS
Property, Plant & Equipment $30.00K $21.00K $22.00K
YoY Change 15.38% -92.91% -21.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $953.0K $1.018M $174.0K
YoY Change 272.27% 243.92% -47.75%
TOTAL ASSETS
Total Short-Term Assets $21.93M $26.18M $2.644M
Total Long-Term Assets $953.0K $1.018M $174.0K
Total Assets $22.88M $27.20M $2.818M
YoY Change 78.55% 72.6% -84.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $503.0K $790.0K $892.0K
YoY Change -32.66% 34.13% 20.22%
Accrued Expenses $1.689M $1.698M $2.237M
YoY Change -12.35% -6.34% 84.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $15.42M $15.97M $3.284M
YoY Change 444.07% 564.86% 56.01%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $634.0K $715.0K $0.00
YoY Change 780.56% 527.19% -100.0%
Total Long-Term Liabilities $634.0K $715.0K $0.00
YoY Change 780.56% 527.19% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $15.42M $15.97M $3.284M
Total Long-Term Liabilities $634.0K $715.0K $0.00
Total Liabilities $16.05M $16.69M $3.284M
YoY Change 452.41% 563.16% 45.31%
SHAREHOLDERS EQUITY
Retained Earnings -$52.41M -$48.57M -$34.00M
YoY Change 126.77% 113.29%
Common Stock $15.00K $15.00K $15.00K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$19.37M -$15.08M -$466.0K
YoY Change
Total Liabilities & Shareholders Equity $22.88M $27.20M $2.818M
YoY Change 78.55% 72.6% -84.97%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$3.838M -$14.58M -$5.328M
YoY Change 5.56% 312.07% 93.6%
Depreciation, Depletion And Amortization $2.000K $2.000K $2.000K
YoY Change 0.0% 0.0% 100.0%
Cash From Operating Activities -$5.502M -$3.920M -$6.084M
YoY Change 80.57% 32.57% 333.64%
INVESTING ACTIVITIES
Capital Expenditures $12.00K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$12.00K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid $200.0K
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 $27.80M -471.0K
YoY Change
NET CHANGE
Cash From Operating Activities -5.502M -$3.920M -6.084M
Cash From Investing Activities -12.00K 0.000
Cash From Financing Activities 0.000 $27.80M -471.0K
Net Change In Cash -5.514M $23.88M -6.555M
YoY Change 80.96% 357.75%
FREE CASH FLOW
Cash From Operating Activities -$5.502M -$3.920M -$6.084M
Capital Expenditures $12.00K $0.00
Free Cash Flow -$5.514M -$3.920M -$6.084M
YoY Change 80.96% 32.66% 342.79%

Facts In Submission

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CY2023Q1 uncy Significant Agreements Policies
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><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. In the event an NDA filing for Renazorb is accepted by the FDA, the Company will be required to pay $0.2 million to Altair Nanomaterials, Inc., (“Altair”) in accordance with the Spectrum Agreement. In addition, in the event FDA approval for Renazorb is received, the Company will be required to pay $4.5 million to Altair. 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 year ended December 31, 2022. In February 2023, the Company received an upfront payment of approximately $0.7 million as a result of a sublicense development agreement with Lotus International Pte Ltd. 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 months ended March 31, 2023.</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 initial budget for the study, which includes clinical pharmacology, translational sciences, and bioanalytical services, was approximately $2.3 million. Related payments totaling approximately $2.0 million have been paid to Syneos as of March 31, 2023.</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 initial budget for the study is approximately $3.7 million, and subsequent revisions reduced the overall budget to $2.6 million. Related payments totaling approximately $1.9 million have been paid to Quotient as of March 31, 2023, approximately $0.9 million of related expense has been recorded, and approximately $1.0 million has been recorded as prepaid expense in the accompanying balance sheet as of March 31, 2023.</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 $0.4 million have been paid to CBCC as of March 31, 2023, 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 $0.8 million has been paid to Inotiv as of March 31, 2023 and approximately $0.1 million has been recorded as prepaid expense in the accompanying balance sheet as of March 31, 2023.</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, and approximately $2.7 million has been paid to Celerion as of March 31, 2023.</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 1, 2023, the Company entered into a license agreement with Lotus International Pte Ltd. (“Lotus”) (see Note 4). Under the terms of the agreement, Lotus will be responsible for development, registration filing and approval for Renazorb in the licensed territory of South Korea. In addition, Lotus 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 territory. The Company has received an upfront payment of $0.7 million, may receive up to $3.7 million in future milestone payments and will be eligible for tiered royalties upon achievement of specified commercial achievements.</p>
CY2023Q1 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
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50000000 usd
CY2021Q3 us-gaap Incremental Common Shares Attributable To Equity Forward Agreements
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438374 shares
us-gaap Other Research And Development Expense
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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.
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CY2023Q1 us-gaap Proceeds From Other Deposits
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CY2022 us-gaap Proceeds From License Fees Received
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CY2023Q1 us-gaap Debt And Equity Securities And Foreign Currency Transaction Price Change Unrealized Gain Loss Operating Before Tax
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CY2023Q1 uncy Transaction Price
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675000 usd
CY2023Q1 us-gaap Proceeds From License Fees Received
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675000 usd
CY2022Q4 us-gaap Prepaid Insurance
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CY2023Q1 us-gaap Prepaid Insurance
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CY2022Q4 uncy Prepaid Preclinical Services
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CY2023Q1 uncy Prepaid Preclinical Services
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CY2022Q4 us-gaap Other Assets Miscellaneous Current
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CY2023Q1 us-gaap Other Assets Miscellaneous Current
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319000 usd
CY2022Q4 us-gaap Inventory Net
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2189000 usd
CY2023Q1 us-gaap Inventory Net
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CY2022Q4 us-gaap Leasehold Improvements Gross
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CY2023Q1 us-gaap Leasehold Improvements Gross
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CY2022Q4 us-gaap Furniture And Fixtures Gross
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CY2023Q1 us-gaap Furniture And Fixtures Gross
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CY2022Q4 us-gaap Property Plant And Equipment Gross
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29000 usd
CY2023Q1 us-gaap Property Plant And Equipment Gross
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29000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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CY2023Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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8000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
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CY2023Q1 us-gaap Property Plant And Equipment Net
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CY2023Q1 us-gaap Accounts Payable Trade Current
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CY2022Q4 uncy Credit Card Liability
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CY2023Q1 uncy Credit Card Liability
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P3Y
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CY2023Q1 us-gaap Lease Cost
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CY2023Q1 us-gaap Lease And Rental Expense
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CY2022 uncy Professional And Contract Services Expens
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CY2022 us-gaap Related Party Transaction Terms And Manner Of Settlement
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CY2023Q1 us-gaap Selling General And Administrative Expense
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CY2022Q1 us-gaap Employee Benefits And Share Based Compensation
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CY2023Q1 uncy Annual Net Cash Flow From Operations Percentage
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CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
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CY2021Q3 us-gaap Share Price
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5
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CY2023Q1 us-gaap Conversion Of Stock Shares Issued1
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CY2023Q1 us-gaap Warrants And Rights Outstanding Term
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P5Y
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
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10000000 shares
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.001
CY2023Q1 us-gaap Shares Issued
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30190 shares
CY2023Q1 us-gaap Proceeds From Debt Net Of Issuance Costs
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28000000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Trust Assets To Pay Expenses
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2200000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022Q1 us-gaap Finance Lease Principal Payments
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CY2022Q1 uncy Issuance Of Common Stock For Cash Net Of Issuance Costs
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CY2022Q1 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
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CY2022Q1 us-gaap Stock Issued1
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CY2023Q1 us-gaap Conversion Of Stock Description
ConversionOfStockDescription
(i) shares of common stock of the Company and, if applicable, shares of Series A-2 Preferred Stock, in lieu of Common Stock, (ii) a tranche A warrant to acquire approximately 46,675,940 shares of Series A-3 Preferred Stock (the “Tranche A Warrant”), (iii) a tranche B warrant to acquire approximately 42,432,672 shares of Series A-4 Preferred Stock (the “Tranche B Warrant”), and (iv) a tranche C warrant to acquire approximately 67,892,276 shares of Series A-5 Preferred Stock (the “Tranche C Warrant”, together with the Tranche A Warrant and the Tranche B Warrant, the “Warrants”). The Tranche A warrants for an aggregate exercise price of approximately $25 million are exercisable until 21 days following the Company’s announcement of receipt of FDA approval for Renazorb, the Tranche B warrants for an aggregate exercise price of approximately $25 million are exercisable until 21 days following the Company’s announcement of receipt of Transitional Drug Add-On Payment Adjustment (“TDAPA”) approval for Renazorb, and the Tranche C Warrant for an aggregate exercise price of approximately $50 million are exercisable until 21 days following four quarters of commercial sales of Renazorb following receipt of TDAPA approval.
CY2023Q1 us-gaap Preferred Stock Per Share Amounts Of Preferred Dividends In Arrears
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1000
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2800000 usd
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25400000 usd
CY2023Q1 us-gaap Preferred Stock Dividend Rate Percentage
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0.14 pure
CY2023Q1 us-gaap Payments Of Dividends
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200000 usd
CY2023Q1 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
6.36
CY2023Q1 us-gaap Employee Stock Ownership Plan Esop Plan Description
EmployeeStockOwnershipPlanESOPPlanDescription
(A) the liquidation preference with respect to such share of Series A-1 Preferred Stock, divided by (B) the conversion price, provided that, to the extent the share conversion would cause such Holder’s beneficial ownership to exceed 9.99%, such holder shall receive shares of Series A-2 Preferred Stock in lieu of common stock, on a one-for-one basis, with respect to the number of shares of common stock that exceed 9.99% ownership, (2) a Tranche A Warrant, (3) a Tranche B Warrant, and (4) a Tranche C Warrant.
CY2023Q1 us-gaap Preferred Stock Dividends Per Share Cash Paid
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1000
CY2023Q1 uncy Annual Rate Percentage
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0.08 pure
CY2023Q1 us-gaap Common Stock Dividends Shares
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1 shares
CY2023Q1 uncy Fair Value Adjustment Of Warrant
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2800000 usd
CY2023Q1 uncy Fair Value Adjustment Of Warrant
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13200000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
157000888 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
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0.64
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P2Y1M6D
CY2023Q1 uncy Aggregate Intrinsic Value Warrants Contingently Issuable
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157000888 shares
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P2Y1M6D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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229069000 usd
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1302326 shares
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352938 shares
CY2023Q1 us-gaap Treasury Stock Common Shares
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352938 shares
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CY2023Q1 us-gaap Income Taxes Paid Net
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1342670 shares
CY2022Q4 uncy Weighted Average Exercise Price Options Outstanding Beginning
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2.75
CY2023Q1 uncy Weighted Average Remaining Contractual Term Outstanding
WeightedAverageRemainingContractualTermOutstanding
P8Y5M19D
CY2022Q4 uncy Aggregate Intrinsic Value Outstanding Beginningin Dollars
AggregateIntrinsicValueOutstandingBeginninginDollars
52000 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares
4000 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
1.66
CY2023Q1 uncy Number Of Shares Underlying Outstanding Options Options Exercised
NumberOfSharesUnderlyingOutstandingOptionsOptionsExercised
2181 shares
CY2023Q1 uncy Weighted Average Exercise Price Options Exercised
WeightedAverageExercisePriceOptionsExercised
3.27
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1336489 shares
CY2023Q1 uncy Weighted Average Exercises Price Outstanding Ending
WeightedAverageExercisesPriceOutstandingEnding
2.76
CY2023Q1 uncy Sharebased Compensation Arrangement By Sharebased Payments Award Options Exercisable Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentsAwardOptionsExercisableWeightedAverageRemainingContractualTerm2
P8Y2M23D
CY2023Q1 uncy Aggregate Intrinsic Value Outstanding Ending
AggregateIntrinsicValueOutstandingEnding
643000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
709899 shares
CY2023Q1 uncy Weighted Exercise Price Option Vested And Exercisable
WeightedExercisePriceOptionVestedAndExercisable
3.16
CY2023Q1 uncy Share Based Weighted Average Remaining Contractual Term Shares Vested And Exercisable
Share-basedWeightedAverageRemainingContractualTermSharesVestedAndExercisable
P7Y7M13D
CY2023Q1 uncy Aggregate Intrinsic Value Options Vested And Exercisable
AggregateIntrinsicValueOptionsVestedAndExercisable
208000 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Number Of Shares Period Increase Decrease
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNumberOfSharesPeriodIncreaseDecrease
900000 shares
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y1M6D
CY2021 uncy Exercised Stock Option
ExercisedStockOption
383721 shares
CY2021 us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
119000 usd
CY2023Q1 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
7365 shares
CY2023Q1 uncy Unvested Options Amount
UnvestedOptionsAmount
24000 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
7000 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
376349 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
10000 shares
CY2022Q2 us-gaap Restricted Stock Expense
RestrictedStockExpense
7200 usd
CY2022Q2 us-gaap Option Contract Indexed To Equity Settlement Share Fair Value Per Share
OptionContractIndexedToEquitySettlementShareFairValuePerShare
0.72
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
4000 usd
CY2021Q3 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
26738 shares
CY2021Q3 us-gaap Restricted Stock Expense
RestrictedStockExpense
100000 usd
CY2021Q3 us-gaap Option Contract Indexed To Equity Settlement Share Fair Value Per Share
OptionContractIndexedToEquitySettlementShareFairValuePerShare
3.74
CY2022Q1 uncy Research And Development
ResearchAndDevelopment
99000 usd
CY2023Q1 uncy Research And Development
ResearchAndDevelopment
82000 usd
CY2022Q1 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
-3537000 usd
CY2023Q1 us-gaap Net Income Loss Allocated To Limited Partners
NetIncomeLossAllocatedToLimitedPartners
-14575000 usd
CY2023Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
192000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3537000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14767000 usd
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15004617 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15232406 shares
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.97
CY2022Q1 uncy Options To Purchase Common Stock
OptionsToPurchaseCommonStock
1187085 shares
CY2023Q1 uncy Options To Purchase Common Stock
OptionsToPurchaseCommonStock
1336489 shares
CY2022Q1 uncy Warrants To Purchase Common Stock
WarrantsToPurchaseCommonStock
4784193 shares
CY2023Q1 uncy Warrants To Purchase Common Stock
WarrantsToPurchaseCommonStock
4784193 shares
CY2023Q1 uncy Contingently Issuable Warrants To Purchase Preferred Stock
ContingentlyIssuableWarrantsToPurchasePreferredStock
157000888 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5971278 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
163121570 shares
CY2023Q1 dei Entity Registrant Name
EntityRegistrantName
Unicycive Therapeutics, Inc.
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
usd
CY2022Q4 us-gaap Temporary Equity Value Excluding Additional Paid In Capital
TemporaryEquityValueExcludingAdditionalPaidInCapital
usd
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
0 usd
CY2023Q1 us-gaap Preferred Stock Value
PreferredStockValue
usd
CY2022Q1 us-gaap Interest Income Other
InterestIncomeOther
usd
CY2022Q1 us-gaap Interest Expense
InterestExpense
usd
CY2022Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
usd
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15232406 shares
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
usd
CY2022Q1 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
usd
CY2023Q1 uncy Weighted Average Exercise Price Warrants Exercised
WeightedAverageExercisePriceWarrantsExercised
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
usd
CY2022Q4 us-gaap Excess Stock Shares Issued
ExcessStockSharesIssued
shares
CY2022Q4 us-gaap Excess Stock Shares Outstanding
ExcessStockSharesOutstanding
shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
CY2023Q1 uncy Aggregate Intrinsic Value Warrants Exercised
AggregateIntrinsicValueWarrantsExercised
usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
shares
CY2023Q1 uncy Weighted Average Remaining Contractual Termin Years Options Forfeited
WeightedAverageRemainingContractualTerminYearsOptionsForfeited
CY2023Q1 us-gaap Stock Granted During Period Value Sharebased Compensation Forfeited
StockGrantedDuringPeriodValueSharebasedCompensationForfeited
usd
CY2023Q1 uncy Weighted Average Remaining Contractual Term Options Exercised
WeightedAverageRemainingContractualTermOptionsExercised
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-14540000 usd
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-3537000 usd
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15004617 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15232406 shares
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.97
CY2022Q1 uncy Contingently Issuable Warrants To Purchase Preferred Stock
ContingentlyIssuableWarrantsToPurchasePreferredStock
shares
CY2023Q1 dei Amendment Flag
AmendmentFlag
false
CY2023Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2023Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2023Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001766140

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