$VRPX
Virpax Pharmaceuticals, Inc.

2024 Q1 Form 10-K Financial Statement

#000121390024025781 Filed on March 26, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.689M $3.589M $10.57M
YoY Change 306.59% 105.72% -4.6%
% of Gross Profit
Research & Development $1.613M $1.096M $5.118M
YoY Change 30.56% -19.3% -52.45%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $3.302M $4.684M $15.69M
YoY Change 100.02% 51.0% -28.18%
Operating Profit -$3.302M -$15.69M
YoY Change 100.02% -28.18%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $82.03K $122.4K $500.3K
YoY Change 6.45% 157.33%
Pretax Income -$3.220M -$4.562M -$15.19M
YoY Change 111.8% 52.71% -29.84%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$3.220M -$4.562M -$15.19M
YoY Change 111.8% 52.71% -29.84%
Net Earnings / Revenue
Basic Earnings Per Share -$2.75 -$12.97
Diluted Earnings Per Share -$2.75 -$3.90 -$12.97
COMMON SHARES
Basic Shares Outstanding 1.171M shares 11.71M shares 1.171M shares
Diluted Shares Outstanding 1.171M shares 1.171M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.866M $9.142M $9.142M
YoY Change -89.01% -51.87% -51.87%
Cash & Equivalents $1.866M $9.142M
Short-Term Investments
Other Short-Term Assets $1.264M $486.8K $486.8K
YoY Change -16.07% -28.23% -28.23%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $3.130M $9.628M $9.628M
YoY Change -83.07% -51.06% -51.06%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $3.130M $9.628M $9.628M
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $3.130M $9.628M $9.628M
YoY Change -83.07% -51.06% -51.06%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $262.6K $493.8K $493.8K
YoY Change 60.03% -24.59% -24.59%
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 $4.344M $7.694M $7.694M
YoY Change 31.86% 148.63% 148.63%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $4.344M $7.694M $7.694M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $4.344M $7.694M $7.694M
YoY Change 31.86% 148.63% 148.63%
SHAREHOLDERS EQUITY
Retained Earnings -$62.76M -$59.54M
YoY Change 36.82% 34.25%
Common Stock $12.00 $12.00
YoY Change -89.74% -89.74%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.213M $1.934M $1.934M
YoY Change
Total Liabilities & Shareholders Equity $3.130M $9.628M $9.628M
YoY Change -83.07% -51.06% -51.06%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$3.220M -$4.562M -$15.19M
YoY Change 111.8% 52.71% -29.84%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$7.729M -$3.011M -$9.854M
YoY Change 284.86% 92.14% -44.79%
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 $454.0K
YoY Change
NET CHANGE
Cash From Operating Activities -$7.729M -3.011M -$9.854M
Cash From Investing Activities
Cash From Financing Activities $454.0K
Net Change In Cash -$7.275M -3.011M -$9.854M
YoY Change 262.25% 92.14% -44.79%
FREE CASH FLOW
Cash From Operating Activities -$7.729M -$3.011M -$9.854M
Capital Expenditures
Free Cash Flow
YoY Change

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Use of Estimates</i></b> — 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, including disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of expenses during the reporting period. Due to the uncertainty of factors surrounding the estimates or judgments used in the preparation of the financial statements, actual results may materially vary from these estimates.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant items subject to such estimates and assumptions include research and development accruals and prepaid expenses, estimated litigation liability, and the valuation of stock-based compensation. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ from those estimates. Accounting estimates used in the preparation of these financial statements change as new events occur, as more experience is acquired, as additional information is obtained and as the operating environment changes. </span></p>
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