Capricor Therapeutics Q2 2024 Financial Update

TL;DR

Capricor's Q2 2024: $31.98M assets, $3.11M liabilities. Financials updated.

AI Summary

Capricor Therapeutics, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported total assets of $31.98 million and total liabilities of $3.11 million for the quarter. This filing provides an update on the company's financial position and operational activities.

Why It Matters

This filing provides investors with a snapshot of Capricor Therapeutics' financial health and operational status as of June 30, 2024, crucial for understanding its current market position.

Risk Assessment

Risk Level: medium — Biotech companies like Capricor Therapeutics are inherently risky due to the high failure rate of drug development and regulatory hurdles.

Key Numbers

• $31.98M — Total Assets (As of June 30, 2024)
• $3.11M — Total Liabilities (As of June 30, 2024)

Key Players & Entities

• CAPRICOR THERAPEUTICS, INC. (company) — Filer
• 20240630 (date) — Period of Report
• $31,983,927 (dollar_amount) — Total Assets as of June 30, 2024
• $3,114,832 (dollar_amount) — Total Liabilities as of June 30, 2024

FAQ

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 per share CAPR The Nasdaq Capital M

Filing Documents

• capr-20240630x10q.htm (10-Q) — 1517KB
• capr-20240630xex31d1.htm (EX-31.1) — 10KB
• capr-20240630xex31d2.htm (EX-31.2) — 10KB
• capr-20240630xex32d1.htm (EX-32.1) — 6KB
• capr-20240630xex32d2.htm (EX-32.2) — 6KB
• 0001558370-24-011638.txt ( ) — 5883KB
• capr-20240630.xsd (EX-101.SCH) — 46KB
• capr-20240630_cal.xml (EX-101.CAL) — 36KB
• capr-20240630_def.xml (EX-101.DEF) — 191KB
• capr-20240630_lab.xml (EX-101.LAB) — 342KB
• capr-20240630_pre.xml (EX-101.PRE) — 283KB
• capr-20240630x10q_htm.xml (XML) — 850KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 5 Condensed Consolidated Balance Sheets at June 30, 2024 and December 31, 2023 5 Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Stockholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 9 Notes to Unaudited Condensed Consolidated Financial Statements 10

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 43

Controls and Procedures

Item 4. Controls and Procedures 44

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 44

Risk Factors

Item 1A. Risk Factors 44

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 44

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 45

Other Information

Item 5. Other Information 45

Exhibits

Item 6. Exhibits 45

Signatures

Signatures 46 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about: how long we expect to maintain liquidity to fund our planned level of operations and our ability to obtain additional funds for our operations; the development of our drug and vaccine candidates, including when we expect to undertake, initiate and complete clinical trials of our drug and vaccine candidates; the expectation, plans, projections, initiation, timing, progress and results of our research and development programs, preclinical studies, any clinical trials, compassionate uses, Investigational New Drug ("IND") filings, Clinical Trial Application ("CTA") filings, New Drug Application ("NDA") filings, Biologics License Application ("BLA"), and other regulatory submissions; regulatory developments involving products and our facilities, including the ability to obtain regulatory approvals or otherwise bring products to market; the regulatory status of our drug and vaccine candidates, including our ability to obtain and maintain orphan drug, rare pediatric and Regen

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. CAPRICOR THERAPEUTICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS ASSETS June 30, 2024 (unaudited) December 31, 2023 CURRENT ASSETS Cash and cash equivalents $ 10,688,363 $ 14,694,857 Marketable securities 18,773,667 24,792,846 Receivables 369,975 10,371,993 Prepaid expenses and other current assets 837,218 995,776 TOTAL CURRENT ASSETS 30,669,223 50,855,472 PROPERTY AND EQUIPMENT, net 5,617,523 5,560,641 OTHER ASSETS Lease right-of-use assets, net 1,671,149 2,050,042 Other assets 319,558 268,172 TOTAL ASSETS $ 38,277,453 $ 58,734,327 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable and accrued expenses $ 6,169,934 $ 6,250,241 Lease liabilities, current 792,694 749,112 Deferred revenue, current 15,392,151 24,270,465 TOTAL CURRENT LIABILITIES 22,354,779 31,269,818 LONG-TERM LIABILITIES CIRM liability 3,376,259 3,376,259 Lease liabilities, net of current 1,044,109 1,486,783 TOTAL LONG-TERM LIABILITIES 4,420,368 4,863,042 TOTAL LIABILITIES 26,775,147 36,132,860 COMMITMENTS AND CONTINGENCIES (NOTE 6) STOCKHOLDERS' EQUITY Preferred stock, $ 0.001 par value, 5,000,000 shares authorized, none issued and outstanding — — Common stock, $ 0.001 par value, 100,000,000 and 50,000,000 shares authorized , 31,983,927 and 31,148,320 shares issued and outstanding, respectively 31,984 31,148 Additional paid-in capital 191,476,543 181,701,859 Accumulated other comprehensive income 154,987 235,813 Accumulated deficit ( 180,161,208 ) ( 159,367,353 ) TOTAL STOCKHOLDERS' EQUITY 11,502,306 22,601,467 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 38,277,453 $ 58,734,327 See accompanying notes to the unaudited condensed consolidated financial statements. 5 Table of Contents CAPRICOR THERAPEUTICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) Thre

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View this 10-Q filing on SEC EDGAR