Camp4 Therapeutics Q3 2024 Update

TL;DR

**Camp4 Therapeutics Q3 2024: Financials filed, Eli Lilly deal details emerge.**

AI Summary

Camp4 Therapeutics Corp. reported its financial results for the period ending September 30, 2024. The company's financial statements indicate a fiscal year end of December 31. Key details include a material transfer agreement with Eli Lilly and Company, and information related to its Series B Preferred Stock and Common Stock.

Why It Matters

This filing provides insight into Camp4 Therapeutics' financial health and ongoing business relationships, which can influence investor decisions and potential partnerships.

Risk Assessment

Risk Level: medium — The company is in the pharmaceutical preparations sector, which is inherently high-risk due to R&D costs and regulatory hurdles, though specific financial distress is not immediately apparent.

Key Numbers

• 0.0890 — Camp4 Therapeutics Corp Stock Price (Indicates current market valuation at the time of filing.)
• P26M — Unknown Financial Metric (This value is present but lacks clear context within the provided text.)

Key Players & Entities

• Camp4 Therapeutics Corp (company) — Filer
• Eli Lilly and Company (company) — Party to a material transfer agreement
• 0001736730 (company) — Central Index Key
• 2024-09-30 (date) — Period of report
• 2024-11-21 (date) — Filing date

FAQ

Key Financial Figures

• $0.0001 — ch registered Common stock, par value $0.0001 per share CAMP Nasdaq Global Market

Filing Documents

• camp-20240930x10q.htm (10-Q) — 2117KB
• camp-20240930xex31d1.htm (EX-31.1) — 12KB
• camp-20240930xex31d2.htm (EX-31.2) — 12KB
• camp-20240930xex32d1.htm (EX-32.1) — 6KB
• camp-20240930xex32d2.htm (EX-32.2) — 6KB
• camp-20240930x10q004.jpg (GRAPHIC) — 9KB
• 0001410578-24-002045.txt ( ) — 8007KB
• camp-20240930.xsd (EX-101.SCH) — 60KB
• camp-20240930_cal.xml (EX-101.CAL) — 52KB
• camp-20240930_def.xml (EX-101.DEF) — 169KB
• camp-20240930_lab.xml (EX-101.LAB) — 480KB
• camp-20240930_pre.xml (EX-101.PRE) — 367KB
• camp-20240930x10q_htm.xml (XML) — 1217KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 6 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 6 Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income for the three and nine months ended September 30, 2024 and 2023 7 Condensed Consolidated Statements of Changes in Convertible Preferred Stock and Stockholders' Equity (Deficit) for the three and nine months ended September 30, 2024 and 2023 8 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 9 Notes to Condensed Consolidated Financial Statements 10 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 30 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 43 Part II Other Information 44 Item 1.

Legal Proceedings

Legal Proceedings 44 Item 1A.

Risk Factors

Risk Factors 44 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 107 Item 3. Defaults Upon Senior Securities 107 Item 4. Mine Safety Disclosures 107 Item 5. Other Information 107 Item 6. Exhibits 107 Exhibit Index 108

Signatures

Signatures 109 1 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q ("Quarterly Report") contains forward-looking statements that involve substantial risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. All statements other than statements of historical fact contained in this Quarterly Report, including statements regarding our strategy, future operations, future financial position, prospects, plans, objectives of management and expected growth, are forward-looking statements. These statements are based on our current beliefs, expectations and assumptions regarding our intentions, beliefs or current expectations concerning, among other things, the future of our business, future plans and strategies, our operational results and other future conditions. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "estimate," "believe," "predict," "potential" or "continue" or the negative of these terms or other similar expressions intended to identify statements about the future, although not all forward-looking statements contain these identifying words. These forward-looking statements include, without limitation, statements about the following: the initiation, timing, progress, results and costs of our research and development programs and of our current and future preclinical studies and clinical trials of our product candidates, including statements regarding the timing of initiation and completion of studies or trials and relate

—FINANCIAL INFORMATION

PART I —FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements CAMP4 Therapeutics Corporation Condensed Consolidated Balance Sheets (In thousands, except share and per share amounts) As of September 30, As of December 31, 2024 2023 (Unaudited) Current assets: Cash and cash equivalents $ 2,528 $ 38,380 Accounts receivable 1,000 — Prepaid expenses and other current assets 1,976 1,633 Total current assets 5,504 40,013 Restricted cash 1,624 1,624 Deferred offering costs 3,324 — Property and equipment, net 3,831 4,797 Operating lease right-of-use assets, net 6,479 7,764 Finance lease right-of-use assets, net 602 748 Total assets $ 21,364 $ 54,946 Current liabilities: Accounts payable $ 3,873 $ 1,042 Accrued expenses 3,677 3,302 Deferred revenue, short-term 1,000 — Operating lease liabilities, current portion 2,919 2,704 Finance lease liabilities, current portion 170 354 Financing liability, current portion 190 405 Total current liabilities 11,829 7,807 Long-term liabilities: Operating lease liabilities, net of current portion 6,274 8,487 Finance lease liabilities, net of current portion 87 148 Financing liability, net of current portion — 85 Other long-term liabilities 2 2 Total liabilities 18,192 16,529 Commitments and contingencies (Note 7) Convertible preferred stock, $ 0.0001 par value; 149,673,284 shares authorized as of September 30, 2024 and December 31, 2023; 130,648,426 shares issued and outstanding as of September 30, 2024 and December 31, 2023; liquidation preference of $ 162,885 as of September 30, 2024 and December 31, 2023 162,147 162,147 Stockholders' deficit: Common stock, $ 0.0001 par, 210,000,000 shares authorized as of September 30, 2024 and December 31, 2023, 1,036,537 and 1,026,057 shares issued, 1,005,930 and 460,704 shares outstanding as of September 30, 2024 and December 31, 2023, respectively 2 1 Additional paid-in capital 39,497 36,231

View Full Filing

View this 10-Q filing on SEC EDGAR