$VCNX
VACCINEX, INC.

2023 Q1 Form 10-K Financial Statement

#000095017023011354 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $550.0K $225.0K $275.0K
YoY Change -69.44%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.724M $1.603M $6.202M
YoY Change 5.9% 2.49% -0.45%
% of Gross Profit
Research & Development $3.812M $3.741M $13.98M
YoY Change 28.52% -5.39% -18.54%
% of Gross Profit
Depreciation & Amortization $31.00K $45.00K $207.0K
YoY Change -24.39% 9.76% 22.49%
% of Gross Profit
Operating Expenses $3.812M $5.344M $13.98M
YoY Change -17.02% -3.15% -40.24%
Operating Profit -$4.986M -$19.91M
YoY Change 8.53% -11.49%
Interest Expense $0.00 $0.00 $2.000K
YoY Change -100.0% -100.0% -100.25%
% of Operating Profit
Other Income/Expense, Net $24.00K $41.00K $93.00K
YoY Change -920.0% 116.28%
Pretax Income -$4.962M -$5.078M -$19.80M
YoY Change 7.99% 9.65% -11.61%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$4.962M -$5.078M -$19.82M
YoY Change 7.99% 9.65% -11.46%
Net Earnings / Revenue -902.18% -2256.89% -7205.45%
Basic Earnings Per Share -$0.10 -$0.47
Diluted Earnings Per Share -$0.10 -$0.11 -$0.47
COMMON SHARES
Basic Shares Outstanding 49.88M 42.72M 42.44M
Diluted Shares Outstanding 49.88M 42.44M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.323M $6.391M $6.391M
YoY Change -80.22% -25.59% -25.59%
Cash & Equivalents $3.323M $6.391M $6.391M
Short-Term Investments
Other Short-Term Assets $1.095M $912.0K $912.0K
YoY Change 13.71% 11.76% 11.76%
Inventory
Prepaid Expenses
Receivables $0.00 $175.0K $175.0K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.418M $7.478M $7.478M
YoY Change -75.13% -20.49% -20.49%
LONG-TERM ASSETS
Property, Plant & Equipment $207.0K $189.0K $499.0K
YoY Change -19.14% -36.36% 13.93%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $477.0K $499.0K $499.0K
YoY Change 34.37% 13.93% 13.93%
TOTAL ASSETS
Total Short-Term Assets $4.418M $7.478M $7.478M
Total Long-Term Assets $477.0K $499.0K $499.0K
Total Assets $4.895M $7.977M $7.977M
YoY Change -72.99% -18.96% -18.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.093M $1.518M $1.518M
YoY Change 85.57% 43.07% 43.07%
Accrued Expenses $975.0K $781.0K $945.0K
YoY Change -3.94% -20.31% -15.7%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $75.00K $74.00K $74.00K
YoY Change 1.35% 0.0% 0.0%
Total Short-Term Liabilities $2.310M $2.537M $2.537M
YoY Change 29.99% 12.46% 12.46%
LONG-TERM LIABILITIES
Long-Term Debt $82.00K $101.0K $247.0K
YoY Change -47.44% -42.29% 41.14%
Other Long-Term Liabilities $103.0K $146.0K $146.0K
YoY Change
Total Long-Term Liabilities $82.00K $101.0K $247.0K
YoY Change -47.44% -42.29% 41.14%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.310M $2.537M $2.537M
Total Long-Term Liabilities $82.00K $101.0K $247.0K
Total Liabilities $2.495M $2.784M $2.784M
YoY Change 29.07% 14.52% 14.52%
SHAREHOLDERS EQUITY
Retained Earnings -$324.6M -$319.7M
YoY Change 6.6% 6.62%
Common Stock $327.0M $324.9M
YoY Change 5.73%
Preferred Stock
YoY Change
Treasury Stock (at cost) $11.00K $11.00K
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $2.400M $5.193M $5.193M
YoY Change
Total Liabilities & Shareholders Equity $4.895M $7.977M $7.977M
YoY Change -72.99% -18.96% -18.96%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$4.962M -$5.078M -$19.82M
YoY Change 7.99% 9.65% -11.46%
Depreciation, Depletion And Amortization $31.00K $45.00K $207.0K
YoY Change -24.39% 9.76% 22.49%
Cash From Operating Activities -$5.000M -$4.599M -$19.10M
YoY Change 0.0% -10.58% -24.51%
INVESTING ACTIVITIES
Capital Expenditures $49.00K -$2.000K $99.00K
YoY Change 209.38%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$49.00K $2.000K -$99.00K
YoY Change 209.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $3.560M
YoY Change -89.16%
Debt Paid & Issued, Net $19.00K $75.00K
YoY Change 0.0% 733.33%
Cash From Financing Activities 2.021M 3.802M 16.98M
YoY Change -84.7% -42344.44% -27.22%
NET CHANGE
Cash From Operating Activities -5.000M -4.599M -19.10M
Cash From Investing Activities -49.00K 2.000K -99.00K
Cash From Financing Activities 2.021M 3.802M 16.98M
Net Change In Cash -3.068M -795.0K -2.198M
YoY Change -137.35% -84.57% 9.52%
FREE CASH FLOW
Cash From Operating Activities -$5.000M -$4.599M -$19.10M
Capital Expenditures $49.00K -$2.000K $99.00K
Free Cash Flow -$5.049M -$4.597M -$19.20M
YoY Change 0.98% -10.62% -24.21%

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CY2022 us-gaap Use Of Estimates
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amount of expenses during the reporting period. Such management estimates include those relating to assumptions used in the valuation of stock option awards, the valuation of derivative instruments, and valuation allowances against deferred income tax assets. Actual results could differ from those estimates.</span></p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk, Other Risks and Uncertainties</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. Cash equivalents are deposited in interest-bearing money market accounts. Although the Company deposits its cash with multiple financial institutions, cash balances may occasionally be in excess of the amounts insured by the Federal Deposit Insurance Corporation. Management believes the financial risk associated with these balances is minimal and has not experienced any losses to date.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company has historically raised capital in transactions with investors that include members of its board of directors and entities controlled by certain board members. As such, the Company's directors, directly and indirectly, control a significant ownership percentage of the Company. The Company can provide no assurances that future financing will be available in sufficient amounts or on terms acceptable to it or that its directors or entities controlled by certain board members will be willing or able to participate in future capital raises by the Company.</span></p><p style="text-indent:4.533%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company depends on third-party manufacturers for the manufacture of drug substance and drug product for clinical trials. The Company also relies on certain third parties for its supply chain. Disputes with these third - party manufacturers or shortages in goods or services from third-party suppliers could delay the manufacturing of the Company’s product candidates and adversely impact its results of operations.</span></p>
CY2020Q1 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
11500000
CY2022 us-gaap Property Plant And Equipment Estimated Useful Lives
PropertyPlantAndEquipmentEstimatedUsefulLives
Lesser of estimated useful life or remaining lease term
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2021 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2022 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
CY2022Q4 us-gaap Income Tax Examination Interest Accrued
IncomeTaxExaminationInterestAccrued
0
CY2022Q4 us-gaap Income Tax Examination Penalties Accrued
IncomeTaxExaminationPenaltiesAccrued
0
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
300000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7445000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7346000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7256000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
7049000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
189000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
297000
CY2022 us-gaap Depreciation
Depreciation
207000
CY2021 us-gaap Depreciation
Depreciation
169000
CY2022Q4 vcnx Accrued Clinical Trial Cost Current
AccruedClinicalTrialCostCurrent
335000
CY2021Q4 vcnx Accrued Clinical Trial Cost Current
AccruedClinicalTrialCostCurrent
468000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
308000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
409000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
127000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
74000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
11000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
29000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
781000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
980000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.78
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.60
CY2017Q4 vcnx Number Of Target Antigens Against Which Antibodies Are To Be Identified And Selected
NumberOfTargetAntigensAgainstWhichAntibodiesAreToBeIdentifiedAndSelected
2
CY2022Q4 vcnx Minimum Bid Price Requirement Per Share For Listing
MinimumBidPriceRequirementPerShareForListing
1.00
CY2022 vcnx Stock Exchange Stock Trading Price Description
StockExchangeStockTradingPriceDescription
In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 days, or until April 10, 2023, to regain compliance with the minimum bid price requirement. If our common stock maintains a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days during the 180-day compliance period, we will automatically regain compliance. In the event we do not regain compliance with the $1.00 bid price requirement by April 10, 2023, the Company may be eligible for an additional 180 calendar day compliance period.
CY2022Q4 vcnx Minimum Bid Price Requirement Threshold Consecutive Business Days To Regain Compliance
MinimumBidPriceRequirementThresholdConsecutiveBusinessDaysToRegainCompliance
P180D
CY2022Q4 vcnx Minimum Bid Price Requirement Per Share For Listing
MinimumBidPriceRequirementPerShareForListing
1.00
CY2022Q4 vcnx Minimum Consecutive Business Days For Which Closing Bid Price Must Be Maintained At Least One Point Zero Zero Per Share To Regain Compliance
MinimumConsecutiveBusinessDaysForWhichClosingBidPriceMustBeMaintainedAtLeastOnePointZeroZeroPerShareToRegainCompliance
P10D
CY2022Q4 vcnx Minimum Bid Price Requirement Per Share For Listing
MinimumBidPriceRequirementPerShareForListing
1.00
CY2022Q4 vcnx Additional Period To Be Granted If Fails To Regain Compliance With Minimum Bid Requirement Prior To Expiration Period
AdditionalPeriodToBeGrantedIfFailsToRegainComplianceWithMinimumBidRequirementPriorToExpirationPeriod
P180D
CY2022 vcnx Royalty Payments Percent Of Net Sales
RoyaltyPaymentsPercentOfNetSales
0.01
CY2022 us-gaap Lessee Operating Lease Assumptions And Judgments Discount Rate Description
LesseeOperatingLeaseAssumptionsAndJudgmentsDiscountRateDescription
The leases do not provide an implicit rate so in determining the present value of lease payments, the Company utilized its incremental borrowing rate for the applicable lease, which was 7.0%.
CY2022Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.070
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
331060
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
21210
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
309850
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
175000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
174000
CY2022 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
175000
CY2021 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
174000
CY2021Q3 us-gaap Convertible Debt
ConvertibleDebt
0
CY2021Q3 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0
CY2022 vcnx Share Based Compensation Arrangement By Share Based Payment Award Options Maximum Contractual Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsMaximumContractualTerm
P10Y
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
615378
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
322067
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
4000.00
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
2166909
CY2021Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
1550887
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
832868
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.83
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y10M24D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
346944
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.47
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
25249
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.62
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1154563
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.55
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y10M24D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
642478
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.15
CY2022 vcnx Sharebased Compensation Arrangement By Sharebased Payment Award Options Granted Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedWeightedAverageRemainingContractualTerm1
P9Y4M24D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
12948
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
3.20
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1784093
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
3.98
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y1M6D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
4000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1013751
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.60
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y10M24D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
4000
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
4000.00
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
561198
CY2021Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
621996
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
545000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
541000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.051
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.053
CY2022 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.052
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.055
CY2022 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
-0.003
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Other
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseOther
0.006
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.310
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.324
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.000
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
75795000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
73802000
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
22721000
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
21717000
CY2022Q4 vcnx Deferred Tax Assets Depreciation And Amortization
DeferredTaxAssetsDepreciationAndAmortization
3627000
CY2021Q4 vcnx Deferred Tax Assets Depreciation And Amortization
DeferredTaxAssetsDepreciationAndAmortization
394000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
84000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Reserves
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReserves
96000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
510000
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
449000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
102737000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
96458000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
102737000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
96458000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
6300000
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
7200000
CY2022 us-gaap Tax Credit Carryforward Expiration Date
TaxCreditCarryforwardExpirationDate
2021-12-31
CY2022 us-gaap Income Tax Examination Description
IncomeTaxExaminationDescription
from January 1, 2019 to December 31, 2022
CY2022Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
CY2021Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
0
CY2022 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1
CY2021 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1
CY2022 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
175000
CY2021 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
174000

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