Edesa Biotech: Series B1 Purchase Agreement Filed
Ticker: EDSA · Form: 10-Q · Filed: Feb 14, 2025 · CIK: 1540159
| Field | Detail |
|---|---|
| Company | Edesa Biotech, Inc. (EDSA) |
| Form Type | 10-Q |
| Filed Date | Feb 14, 2025 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, subsequent-event, financing
TL;DR
Edesa Biotech filed a 10-Q detailing a Feb 12, 2025 Series B1 purchase agreement for common and preferred stock.
AI Summary
Edesa Biotech, Inc. filed its 10-Q for the period ending December 31, 2024. A significant subsequent event occurred on February 12, 2025, involving a Series B1 Purchase Agreement. This agreement pertains to the company's common stock and convertible preferred stock, with details related to share transactions.
Why It Matters
This filing details a recent financing event, the Series B1 Purchase Agreement, which could impact the company's capital structure and future operations.
Risk Assessment
Risk Level: medium — The filing indicates a subsequent event related to a purchase agreement, which could involve significant financial transactions and potential dilution or capital changes.
Key Players & Entities
- Edesa Biotech, Inc. (company) — Filer of the 10-Q
- 20241231 (date) — End of the reporting period
- 20250214 (date) — Filing date
- 2025-02-12 (date) — Date of the Series B1 Purchase Agreement
- Series B1 Purchase Agreement (document) — Key subsequent event
FAQ
What is the nature of the Series B1 Purchase Agreement filed as a subsequent event?
The filing indicates that the Series B1 Purchase Agreement, dated February 12, 2025, involves transactions related to Edesa Biotech's common stock and convertible preferred stock.
What was the reporting period for this 10-Q filing?
The 10-Q filing covers the period ending on December 31, 2024.
When was this 10-Q form filed with the SEC?
This 10-Q form was filed on February 14, 2025.
What was Edesa Biotech's former company name?
Edesa Biotech, Inc. was formerly known as Stellar Biotechnologies, Inc., with a name change date of January 20, 2012.
What industry does Edesa Biotech operate in?
Edesa Biotech, Inc. operates in the Pharmaceutical Preparations industry, with SIC code 2834.
Filing Stats: 4,511 words · 18 min read · ~15 pages · Grade level 14.4 · Accepted 2025-02-14 16:46:17
Filing Documents
- edsa20241231_10q.htm (10-Q) — 735KB
- ex_774545.htm (EX-31.1) — 12KB
- ex_774546.htm (EX-31.2) — 12KB
- ex_774547.htm (EX-32.1) — 5KB
- ex_774548.htm (EX-32.2) — 5KB
- 0001171843-25-000866.txt ( ) — 4528KB
- edsa-20241231.xsd (EX-101.SCH) — 49KB
- edsa-20241231_def.xml (EX-101.DEF) — 343KB
- edsa-20241231_lab.xml (EX-101.LAB) — 289KB
- edsa-20241231_pre.xml (EX-101.PRE) — 372KB
- edsa-20241231_cal.xml (EX-101.CAL) — 27KB
- edsa20241231_10q_htm.xml (XML) — 622KB
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS Item 1.
Financial Statements (Unaudited)
Financial Statements (Unaudited) 3 Condensed Interim Consolidated Balance Sheets – December 31, 2024 and September 30, 2024 3 Condensed Interim Consolidated Statements of Operations – Three Months Ended December 31, 2024 and 2023 4 Condensed Interim Consolidated Statements of Cash Flows – Three Months Ended December 31, 2024 and 2023 5 Condensed Interim Consolidated Statements of Changes in Shareholders' Equity – Three Months Ended December 31, 2024 and 2023 6 Notes to Condensed Interim Consolidated Financial Statements 7 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 16 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 21 Item 4.
Controls and Procedures
Controls and Procedures 21 PART II OTHER INFORMATION 22 Item 1.
Legal Proceedings
Legal Proceedings 22 Item 1A.
Risk Factors
Risk Factors 22 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 Item 3. Defaults Upon Senior Securities 22 Item 4. Mine Safety Disclosures 22 Item 5. Other Information 22 Item 6. Exhibits 23 2 PART 1 – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements Edesa Biotech, Inc. Condensed Interim Consolidated Balance Sheets December 31, 2024 September 30, 2024 Audited Assets: Current assets: Cash and cash equivalents $ 1,563,502 $ 1,037,320 Accounts and other receivable 350,639 270,908 Prepaid expenses and other current assets 157,787 367,394 Total current assets 2,071,928 1,675,622 Non-current assets: Long-term deposits 38,698 41,151 Intangible asset, net 2,053,555 2,078,848 Right-of-use assets - 18,361 Total assets $ 4,164,181 $ 3,813,982 Liabilities and shareholders' equity: Current liabilities: Accounts payable and accrued liabilities $ 1,900,219 $ 1,812,960 Short-term right-of-use lease liabilities - 19,867 Total current liabilities 1,900,219 1,832,827 Shareholders' equity: Capital shares Authorized unlimited common and preferred shares without par value Issued and outstanding: 3,467,658 common shares (September 30, 2024 - 3,247,389 ) 47,562,091 47,236,024 150 Series A-1 preferred shares (September 30, 2024 - 0 ) 981,174 - Additional paid-in capital 14,176,399 13,576,757 Accumulated other comprehensive loss ( 223,957 ) ( 242,613 ) Accumulated deficit ( 60,231,745 ) ( 58,589,013 ) Total shareholders' equity 2,263,962 1,981,155 Total liabilities and shareholders' equity $ 4,164,181 $ 3,813,982 The accompanying notes are an integral part of these condensed interim consolidated financial statements. 3 Edesa Biotech, Inc. Condensed Interim Consolidated Statements of Operations Three Months Ended December 31, 2024 December 31,2023 Expenses: Research and development $ 1,019,818 $ 704,458 General and administrative 878,871 1,152,971 Loss from operations ( 1,898,689 ) ( 1,857,429 ) Other income (loss): Reimbursement grant income 301,195 120,834 Interest income 1,666 60,966 Foreign exchange loss ( 21,425 ) ( 2,822 ) 2