LEAP THERAPEUTICS, INC. Files 10-Q for Period Ending March 31, 2024

AI Summary

LEAP THERAPEUTICS, INC. (CYPH) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. LEAP THERAPEUTICS, INC. filed a 10-Q for the period ending March 31, 2024. The filing covers the first quarter of 2024. Key dates mentioned include January 7, 2011 (date of name change from Dekkun Corp). The company's principal executive offices are located at 47 Thorndike Street, Suite B1-1, Cambridge, MA 02142. The SIC code for the company is 2834 (Pharmaceutical Preparations).

Why It Matters

For investors and stakeholders tracking LEAP THERAPEUTICS, INC., this filing contains several important signals. This 10-Q filing provides investors with an updated view of Leap Therapeutics' financial health and operational progress for the first quarter of 2024, crucial for investment decisions. The detailed financial statements and disclosures within the report are essential for understanding the company's performance, cash position, and any significant events that occurred during the reporting period.

Risk Assessment

Risk Level: low — LEAP THERAPEUTICS, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial distress indicators or major strategic shifts that would elevate the risk level.

Analyst Insight

Monitor future filings for updates on clinical trial progress, regulatory approvals, and financial performance, particularly revenue generation and cash burn rate.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-13 — Filing Date (Filed as of date)
• 2011-01-07 — Name Change Date (Former company name date)
• 2834 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• LEAP THERAPEUTICS, INC. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-13 (date) — Filed as of date
• Dekkun Corp (company) — Former company name
• 2011-01-07 (date) — Date of name change
• Cambridge, MA (location) — Business address city and state
• 02142 (location) — Business address zip code
• 2834 (industry) — Standard Industrial Classification

FAQ

Industry Context

Leap Therapeutics operates in the pharmaceutical preparations industry, focusing on the development of novel cancer therapeutics.

Regulatory Implications

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

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze any disclosed risk factors or legal proceedings.
3. Track subsequent events for any material developments post-period end.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q
• 2024-05-13: Filing Date — Date the 10-Q was officially filed with the SEC

Year-Over-Year Comparison

This is the 10-Q filing for the first quarter of 2024, providing an update from previous filings.

Key Financial Figures

• $0.001 — h registered: Common Stock, par value $0.001 per share LPTX Nasdaq Capital Marke

Filing Documents

• lptx-20240331x10q.htm (10-Q) — 1176KB
• lptx-20240331xex10d1.htm (EX-10.1) — 21KB
• lptx-20240331xex31d1.htm (EX-31.1) — 11KB
• lptx-20240331xex32d1.htm (EX-32.1) — 6KB
• 0001410578-24-000748.txt ( ) — 5660KB
• lptx-20240331.xsd (EX-101.SCH) — 44KB
• lptx-20240331_cal.xml (EX-101.CAL) — 37KB
• lptx-20240331_def.xml (EX-101.DEF) — 175KB
• lptx-20240331_lab.xml (EX-101.LAB) — 415KB
• lptx-20240331_pre.xml (EX-101.PRE) — 300KB
• lptx-20240331x10q_htm.xml (XML) — 879KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION Item 1

Financial Statements

Financial Statements 6 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 26 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4

Controls and Procedures

Controls and Procedures 33

— OTHER INFORMATION

PART II — OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 34 Item 1A

Risk Factors

Risk Factors 34 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 34 Item 3 Defaults Upon Senior Securities 34 Item 4 Mine Safety Disclosures 34 Item 5 Other Information 34 Item 6 Exhibits 35 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INDUSTRY DATA This Quarterly Report on Form 10-Q (this "Quarterly Report") contains forward-looking statements which reflect our current views with respect to, among other things, our operations and financial performance. Such statements are based upon our current plans, estimates and expectations that are subject to various risks and uncertainties that could cause actual results to differ materially from such statements. The inclusion of forward-looking statements should not be regarded as a representation that such plans, estimates and expectations will be achieved. Words such as "anticipate," "expect," "project," "intend," "believe," "may," "will," "should," "plan," "could," "continue," "target," "contemplate," "estimate," "forecast," "guidance," "predict," "possible," "potential," "pursue," "likely," and words and terms of similar substance used in connection with any discussion of future plans, actions or events identify forward-looking statements. All statements, other than historical facts, including statements regarding estimations of projected cash runway; our future product development plans; the potential, safety, efficacy, and regulatory and clinical progress of our product candidates, including the anticipated timing for initiation of clinical trials and release of clinical trial data and the expectations surrounding potential regulatory submissions, approvals and timing thereof; and any assumptions underlying any of the foregoing, are forward-looking statements. Important factors that could cause actual results to differ materially from our plans, estimates or expectations could include, but are not limited to: (i) our ability and plan to deve

– FINANCIAL INFORMATION

Part I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements LEAP THERAPEUTICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share amounts) March 31, December 31, 2024 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 54,921 $ 70,643 Research and development incentive receivable 738 771 Prepaid expenses and other current assets 526 183 Total current assets 56,185 71,597 Property and equipment, net — 5 Right of use assets, net 577 257 Research and development incentive receivable, net of current portion 245 — Deferred costs 39 — Deposits 917 966 Total assets $ 57,963 $ 72,825 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 5,951 $ 6,465 Accrued expenses 4,056 5,957 Lease liability - current portion 430 262 Total current liabilities 10,437 12,684 Non current liabilities: Lease liability, net of current portion 154 — Total liabilities 10,591 12,684 Stockholders' equity: Preferred stock, $ 0.001 par value; 10,000,000 shares authorized; 0 shares issued and outstanding — — Common stock, $ 0.001 par value; 240,000,000 shares authorized; 25,603,471 and 25,565,414 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 26 26 Additional paid-in capital 460,868 459,591 Accumulated other comprehensive income (loss) ( 120 ) 106 Accumulated deficit ( 413,402 ) ( 399,582 ) Total stockholders' equity 47,372 60,141 Total liabilities and stockholders' equity $ 57,963 $ 72,825 See notes to condensed consolidated financial statements. 6 Table of Contents LEAP THERAPEUTICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share amounts) (Unaudited) Three Months Ended March 31, 2024 2023 Operating expenses: Research and development $ 11,299 $ 38,942 General and administrative 3,526 3,784 Total operati

View Full Filing

View this 10-Q filing on SEC EDGAR