GENELUX Corp Files Q2 2024 10-Q

TL;DR

GENELUX Q2 10-Q filed. Financials updated.

AI Summary

GENELUX Corp filed its 10-Q for the period ending June 30, 2024. The company, operating in the Pharmaceutical Preparations sector, is based in Westlake Village, CA. Key financial data and reporting dates are included in the filing, which was submitted on August 14, 2024.

Why It Matters

This filing provides investors with the latest financial performance and operational details for GENELUX Corp, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated in the provided snippet.

Key Numbers

• 20240630 — Period End Date (Indicates the end of the fiscal quarter being reported.)
• 20240814 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• GENELUX Corp (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240814 (date) — Filing date of the 10-Q
• 2625 TOWNSGATE ROAD, SUITE 230 (address) — Company's business and mailing address
• WESTLAKE VILLAGE, CA 91361 (address) — Company's business and mailing city, state, and zip

FAQ

Filing Documents

• form10-q.htm (10-Q) — 1929KB
• ex31-1.htm (EX-31.1) — 13KB
• ex31-2.htm (EX-31.2) — 13KB
• ex32-1.htm (EX-32.1) — 8KB
• 0001493152-24-032145.txt ( ) — 6770KB
• gnlx-20240630.xsd (EX-101.SCH) — 44KB
• gnlx-20240630_cal.xml (EX-101.CAL) — 46KB
• gnlx-20240630_def.xml (EX-101.DEF) — 182KB
• gnlx-20240630_lab.xml (EX-101.LAB) — 455KB
• gnlx-20240630_pre.xml (EX-101.PRE) — 328KB
• form10-q_htm.xml (XML) — 822KB

— FINANCIAL INFORMATION

PART I— FINANCIAL INFORMATION 3 Item 1. Condensed Financial Statements 3 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 20 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4. Control and Procedures 30

— OTHER INFORMATION

PART II— OTHER INFORMATION 31 Item 1

Legal Proceedings

Legal Proceedings 31 Item 1A

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 113 Item 3. Defaults Upon Senior Securities 113 Item 4. Mine Safety Disclosures 113 Item 5. Other Information 113 Item 6. Exhibits 114

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

: Financial Statements

Item 1: Financial Statements . Genelux Corporation Condensed Balance Sheets (in thousands, except for share amounts and par value data) June 30, December 31, 2024 2023 (Unaudited) ASSETS Current Assets Cash and cash equivalents $ 7,858 $ 9,418 Short-term investments 25,778 13,773 Prepaid expenses and other current assets 1,234 1,012 Total Current Assets 34,870 24,203 Property and equipment, net 1,306 1,170 Right of use assets 2,098 2,428 Long-term investments 6,813 - Other assets 92 92 Total Other Assets 10,309 3,690 TOTAL ASSETS $ 45,179 $ 27,893 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts payable and accrued expenses $ 4,786 $ 3,784 Accrued payroll and payroll taxes 517 2,117 Lease liabilities, current portion 500 653 Total Current Liabilities 5,803 6,554 Lease liabilities, long-term portion 1,707 1,866 Total Liabilities 7,510 8,420 Shareholders' Equity Preferred stock, par value $ 0.001 , 10,000,000 shares authorized; no shares issued and outstanding, respectively; - - Common stock, par value $ 0.001 , 200,000,000 shares authorized; 34,512,642 and 26,788,986 shares issued and outstanding, respectively 35 27 Treasury stock, 433,333 shares, at cost ( 433 ) ( 433 ) Additional paid-in capital 274,028 241,389 Accumulated other comprehensive income (loss) ( 11 ) 14 Accumulated deficit ( 235,950 ) ( 221,524 ) Total Shareholders' Equity 37,669 19,473 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 45,179 $ 27,893 The accompanying notes are an integral part of these condensed financial statements. 3 Genelux Corporation Condensed (in thousands, except for share amounts and per share data) 2024 2023 2024 2023 Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) Revenues $ - $ - $ 8 $ 170 Operating expenses: Research and developmen

View Full Filing

View this 10-Q filing on SEC EDGAR