Bio-Path Holdings Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Bio-Path Holdings, Inc. filed its Q1 2024 10-Q, detailing financial performance and recent capital-raising activities.</b>

AI Summary

BIO-PATH HOLDINGS, INC. (BPTH) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Bio-Path Holdings, Inc. reported its Q1 2024 financial results on May 14, 2024. The company's fiscal year ends on December 31. Key financial data for the period ending March 31, 2024, includes specific figures for common stock, retained earnings, and additional paid-in capital. The filing details various stock and warrant offerings, including a Registered Direct Offering in March 2024 and a Private Placement Offering in April 2024. The company's business address is in Bellaire, TX.

Why It Matters

For investors and stakeholders tracking BIO-PATH HOLDINGS, INC., this filing contains several important signals. The filing provides a snapshot of the company's financial health and equity structure as of March 31, 2024, which is crucial for investors assessing its current standing. Details on recent stock and warrant offerings indicate ongoing efforts to secure funding, which could impact future dilution and operational capacity.

Risk Assessment

Risk Level: medium — BIO-PATH HOLDINGS, INC. shows moderate risk based on this filing. The company has engaged in multiple stock and warrant offerings, suggesting a need for capital which could lead to dilution and financial strain if not managed effectively.

Analyst Insight

Monitor Bio-Path Holdings' cash burn rate and the success of its recent capital raises to understand its path to profitability.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q Filing)
• 2024-05-14 — Filing Date (10-Q Filing)
• 647000 — Common Stock Value (As of 2024-03-31)
• 398000 — Warrant Value (As of 2024-03-31)
• 4.88 — Registered Direct Offering Price (March 2024)
• 13.25 — Private Placement Offering Price (April 2024)

Key Players & Entities

• BIO-PATH HOLDINGS, INC. (company) — Filer
• BPTH (company) — Ticker Symbol
• 2024-03-31 (date) — Conformed Period of Report
• 2024-05-14 (date) — Filed as of Date
• Bellaire, TX (location) — Business Address
• Roth Capital Partners, LLC (company) — Placement Agent
• Wainwright (company) — Underwriter

FAQ

Risk Factors

• Need for Additional Financing [high — financial]: The company has a history of operating losses and may require additional financing to fund its operations, which could impact its ability to continue as a going concern.

Industry Context

Bio-Path Holdings operates in the pharmaceutical preparations industry, focusing on developing novel therapeutics.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the company's cash flow statement for burn rate.
2. Review the terms and impact of the recent stock and warrant offerings.
3. Assess the company's pipeline and clinical trial progress for future revenue potential.

Key Dates

• 2024-03-31: Quarterly Period End — Financial reporting period for the 10-Q.
• 2024-05-14: Filing Date — Date the 10-Q was officially filed with the SEC.
• 2024-04-19: Private Placement Offering — Completion of a private placement of securities.
• 2024-03-25: Registered Direct Offering — Completion of a registered direct offering of securities.

Year-Over-Year Comparison

This 10-Q filing provides updated financial information for the first quarter of 2024, reflecting changes in the company's financial position and capital structure since the previous filing.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share BPTH The Nasdaq Capital M

Filing Documents

• bpth-20240331x10q.htm (10-Q) — 684KB
• bpth-20240331xex31.htm (EX-31) — 12KB
• bpth-20240331xex32.htm (EX-32) — 6KB
• 0001558370-24-008135.txt (&nbsp;) — 3175KB
• bpth-20240331.xsd (EX-101.SCH) — 29KB
• bpth-20240331_cal.xml (EX-101.CAL) — 30KB
• bpth-20240331_def.xml (EX-101.DEF) — 114KB
• bpth-20240331_lab.xml (EX-101.LAB) — 217KB
• bpth-20240331_pre.xml (EX-101.PRE) — 200KB
• bpth-20240331x10q_htm.xml (XML) — 311KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 5 Item 1.

Financial Statements

Financial Statements 5 Condensed Consolidated Balance Sheets (Unaudited) 5 Condensed Consolidated Statements of Operations (Unaudited) 6 Condensed Consolidated Statements of Cash Flows (Unaudited) 7 Condensed Consolidated Statements of Shareholders' (Deficit) Equity (Unaudited) 8 Notes to the Unaudited Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 23

- OTHER INFORMATION

PART II - OTHER INFORMATION 25 Item 1.

Legal Proceedings

Legal Proceedings 25 Item 1A.

Risk Factors

Risk Factors 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3. Defaults Upon Senior Securities 25 Item 4. Mine Safety Disclosures 25 Item 5. Other Information 25 Item 6. Exhibits 26 Signature 27 4 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS BIO-PATH HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except par value) As of March 31, As of December 31, 2024 2023 Assets Current assets Cash $ 188 $ 1,052 Prepaid drug product 632 632 Other current assets 817 1,358 Total current assets 1,637 3,042 Fixed assets Furniture, fixtures & equipment 1,120 1,120 Less accumulated depreciation ( 1,066 ) ( 1,044 ) 54 76 Right of use operating assets 77 102 Total Assets $ 1,768 $ 3,220 Liabilities & Shareholders' (Deficit) Equity Current liabilities Accounts payable $ 1,746 $ 457 Accrued expenses 1,984 1,346 Current portion of lease liabilities 82 103 Total current liabilities 3,812 1,906 Warrant liability 578 863 Noncurrent lease liabilities 3 10 Total Liabilities 4,393 2,779 Shareholders' (deficit) equity Preferred stock, $ .001 par value; 10,000 shares authorized; no shares issued and outstanding — — Common stock, $ .001 par value; 200,000 shares authorized; 754 and 398 shares issued and outstanding , respectively 1 1 Additional paid in capital 108,138 108,047 Accumulated deficit ( 110,764 ) ( 107,607 ) Total shareholders' (deficit) equity ( 2,625 ) 441 Total Liabilities & Shareholders' (Deficit) Equity $ 1,768 $ 3,220 SEE ACCOMPANYING NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 5 Table of Contents BIO-PATH HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited) Three Months Ended March 31, 2024 2023 Operating expenses Research and development $ 2,288 $ 3,989 General and administrative 1,407 1,303 Total operating expenses 3,695 5,292 Net operating loss $ ( 3,695 ) $ ( 5,292 ) Other income Change in fair value of warrant liability 538 — Interest income — 19 Total other income 538 19 Net loss $ ( 3,157 ) $ (

View Full Filing

View this 10-Q filing on SEC EDGAR