$VINC
Vincerx Pharma Inc

2024 Q4 Form 10-Q Financial Statement

#000119312524255248 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $3.908M
YoY Change -42.53%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $7.793M
YoY Change -24.46%
Operating Profit -$7.793M
YoY Change -24.46%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$50.00K
YoY Change -108.31%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$7.843M
YoY Change -19.27%
Net Earnings / Revenue
Basic Earnings Per Share -$0.17
Diluted Earnings Per Share -$0.17
COMMON SHARES
Basic Shares Outstanding 33.56M 29.67M
Diluted Shares Outstanding 45.67K

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $2.942M
Short-Term Investments
Other Short-Term Assets $231.0K
YoY Change -59.54%
Inventory
Prepaid Expenses $283.0K
Receivables
Other Receivables
Total Short-Term Assets $11.75M
YoY Change -48.51%
LONG-TERM ASSETS
Property, Plant & Equipment $85.00K
YoY Change -37.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $173.0K
YoY Change -80.21%
Total Long-Term Assets $3.199M
YoY Change -7.49%
TOTAL ASSETS
Total Short-Term Assets $11.75M
Total Long-Term Assets $3.199M
Total Assets $14.95M
YoY Change -43.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.963M
YoY Change -35.89%
Accrued Expenses $1.724M
YoY Change -61.91%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.424M
YoY Change -38.68%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities $50.00K
YoY Change 0.0%
Total Long-Term Liabilities $50.00K
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.424M
Total Long-Term Liabilities $50.00K
Total Liabilities $5.839M
YoY Change -44.58%
SHAREHOLDERS EQUITY
Retained Earnings -$181.2M
YoY Change 15.74%
Common Stock $3.000K
YoY Change 50.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $9.108M
YoY Change
Total Liabilities & Shareholders Equity $14.95M
YoY Change -43.12%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$7.843M
YoY Change -19.27%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Proceeds From Issuance Initial Public Offering
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<div style="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold">NOTE 1. NATURE OF BUSINESS </div><div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">LSAC was initially formed on December 19, 2018 as a Delaware corporation for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. In December 2020, the Merger Sub merged with and into Legacy Vincera Pharma, with Legacy Vincera Pharma surviving the Merger as a wholly- owned subsidiary of LSAC. In connection with the Business Combination, LSAC changed its name to Vincera Pharma, Inc., and subsequently in January 2021, changed its name to Vincerx Pharma, Inc. (together with its consolidated subsidiaries, the “Company”). </div><div style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company is a clinical-stage biopharmaceutical company focused on leveraging its extensive development and oncology expertise to advance new therapies intended to address unmet medical needs for the treatment of cancer. The Company’s current pipeline is entirely derived from the Bayer License Agreement (see Note 3), pursuant to which the Company has been granted an exclusive, royalty-bearing, worldwide license under certain Bayer patents and <div style="white-space:nowrap;display:inline;">know-how</div> to develop, use, manufacture, commercialize, sublicense, and distribute (i) a bioconjugation platform, which includes next-generation antibody-drug conjugates and small molecule-drug conjugates, and (ii) a small molecule drug program, including a <div style="white-space:nowrap;display:inline;">P-TEFb</div> inhibitor compound. The Company intends to use these product candidates to treat various cancers in a patient-specific, targeted approach. </div>
dei Entity Incorporation Date Of Incorporation
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2018-12-19
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<div style="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;font-weight:bold">Use of Estimates </div><div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The preparation of condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of commitments and contingencies at the date of the condensed consolidated financial statements as well as reported amounts of expenses during the reporting periods. Estimates made by the Company include, but are not limited to, common stock warrant liabilities and stock-based compensation. The Company bases these estimates on historical experience and on various other assumptions that it believes are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying amounts of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from those estimates. </div>
us-gaap Concentration Risk Credit Risk
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<div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;font-weight:bold"><div style="font-style:italic;display:inline;">Concentrations of Credit Risk </div></div><div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has significant cash balances at financial institutions which throughout the year regularly exceed the federally insured limit of $250,000. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows. </div><div style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company is subject to risks common to companies in the biotechnology industry, including, but not limited to, development by the Company or its competitors of technological innovations, risks of failure of clinical studies, dependence on key personnel, protection of proprietary technology, compliance with government regulations, and ability to transition from preclinical manufacturing to commercial production of products. </div><div style="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company’s future product candidates will require approvals from the FDA and comparable foreign regulatory agencies prior to commercial sales in their respective jurisdictions. There can be no assurance that any product candidates will receive the necessary approvals. If the Company was denied approval, approval was delayed, or the Company was unable to maintain approval for any product candidate, it could have a material adverse impact on the Company. </div>
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