Acasti Pharma Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Acasti Pharma Inc. filed its Q3 2024 10-Q report, detailing financial positions and stock-related activities.</b>

AI Summary

Acasti Pharma Inc. (GRCE) filed a Quarterly Report (10-Q) with the SEC on February 12, 2024. Acasti Pharma Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the third quarter of fiscal year 2024. The company's principal business address is in Princeton, NJ. The filing includes data related to common stock, additional paid-in capital, and retained earnings. Various financial instruments and stock-related plans are detailed, including stock options and warrants.

Why It Matters

For investors and stakeholders tracking Acasti Pharma Inc., this filing contains several important signals. This 10-Q filing provides investors with an updated view of Acasti Pharma's financial health and operational status as of December 31, 2023. The detailed financial information, including equity and debt components, is crucial for understanding the company's capital structure and potential for future growth or investment.

Risk Assessment

Risk Level: low — Acasti Pharma Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial updates without immediate red flags, indicating a low level of immediate risk from this specific filing.

Analyst Insight

Review the detailed financial statements and disclosures within the 10-Q to assess Acasti Pharma's current financial standing and operational progress.

Key Numbers

• 2023-12-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-02-12 — Filing Date (Filed as of Date)
• Q3 2024 — Fiscal Quarter (Indicates the fiscal quarter the report pertains to)

Key Players & Entities

• Acasti Pharma Inc. (company) — Filer of the 10-Q report
• Princeton, NJ (location) — Business and mailing address of Acasti Pharma Inc.

Forward-Looking Statements

• Acasti Pharma will continue to focus on cost control to extend its cash runway. (Acasti Pharma Inc.) — high confidence, target: 2024-09-30
• The company may seek additional financing if R&D expenses increase for later-stage clinical trials. (Acasti Pharma Inc.) — medium confidence, target: 2025-03-31

FAQ

Industry Context

Acasti Pharma Inc. operates in the pharmaceutical preparations industry.

Regulatory Implications

The filing is a standard 10-Q report submitted to the SEC under the 1934 Act.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity.
2. Review the statement of operations for revenue and expense trends.
3. Examine disclosures related to stock options, warrants, and other equity instruments.

Year-Over-Year Comparison

This filing is a 10-Q, providing a quarterly update on the company's financial position.

Filing Documents

• acst-20231231.htm (10-Q) — 1561KB
• acst-ex31_1.htm (EX-31.1) — 14KB
• acst-ex31_2.htm (EX-31.2) — 13KB
• acst-ex32_1.htm (EX-32.1) — 9KB
• acst-ex32_2.htm (EX-32.2) — 9KB
• img180445768_0.jpg (GRAPHIC) — 52KB
• img180445768_1.jpg (GRAPHIC) — 19KB
• img180445768_2.jpg (GRAPHIC) — 99KB
• img180445768_3.jpg (GRAPHIC) — 14KB
• img180445768_4.jpg (GRAPHIC) — 67KB
• img180445768_5.jpg (GRAPHIC) — 63KB
• img180445768_6.jpg (GRAPHIC) — 40KB
• 0000950170-24-013566.txt (&nbsp;) — 7016KB
• acst-20231231.xsd (EX-101.SCH) — 1064KB
• acst-20231231_htm.xml (XML) — 831KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 4 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 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 37

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1 .

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 3. Defaults Upon Senior Securities 38 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 38 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This quarterly report contains information that may be forward-looking statements within the meaning of Canadian securities laws or forward-looking statements within the meaning of U.S. federal securities laws, and we refer to such statements in this quarterly report as forward-looking statements. Forward- looking statements can be identified by the use of terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not statements about the present or historical facts. Although the forward-looking statements in this quarterly report are based upon what we believe are reasonable assumptions, you should not place undue reliance on those forward-looking statements since actual results may vary materially from them. In addition, the forward-looking statements in this quarterly report are subject to a number of known and unknown risks, uncertainties and other factors, many of which are beyond our control, that could cause our actual results and developments to differ materially from those that are disclosed in or implied by the forward-looking statements, including, among others: We are heavily dependent on the success of our lead drug candidate, GTX-104. Clinical development is a lengthy and expensive process with an uncertain outcome, and results of earlier studies and trials may not be predictive of future trial results. Failure can occur at any stage of clinical development. We are subject to uncertainty relating to healthcare reform measures and reimbursement policies that, if not favorable to our drug candidates, could hinder or

FINANCIA L INFORMATION

PART I. FINANCIA L INFORMATION

: Financial Information

Item 1: Financial Information Unaudited Condensed Consolidated Interim Financial Statements Condensed Consolidated Interim Balance Sheets 5 Condensed Consolidated Interim Statements of Loss and Comprehensive Loss 6 Condensed Consolidated Interim Statements of Shareholders' Equity 7 Condensed Consolidated Interim Statements of Cash Flows 8 Notes to the Condensed Consolidated Interim Financial Statements 9 4 ACASTI PHARMA INC. Condensed Consolidated Interim Balance Sheets (Unaudited) December 31, 2023 March 31, 2023 (Expressed in thousands except share data) $ $ Assets Current assets: Cash and cash equivalents 18,545 27,875 Short-term investments 6,569 15 Receivables 959 802 Prepaid expenses 811 598 Total current assets 26,884 29,290 Operating lease right of use asset 23 463 Equipment 12 104 Intangible assets 41,128 41,128 Goodwill 8,138 8,138 Total assets 76,185 79,123 Liabilities and Shareholders' equity Current liabilities: Trade and other payables 1,746 3,336 Operating lease liability 24 75 Total current liabilities 1,770 3,411 Derivative warrant liabilities 3,332 — Operating lease liability — 410 Deferred tax liability 6,403 7,347 Total liabilities 11,505 11,168 Commitments and contingencies (Note 12) Shareholders' equity: Class A common shares, no par value per share; unlimited shares authorized as of December 31, 2023 and March 31, 2023; 9,399,404 and 7,435,533 shares issued and outstanding as of December 31, 2023 and March 31, 2023, respectively 261,038 258,294 Class B, C, D and E common shares, no par value per share; unlimited shares authorized as of December 31, 2023 and March 31, 2023; no ne issued and outstanding — — Additional paid-in capital 17,633 13,965 Accumulated other comprehensive loss ( 6,038 ) ( 6,038 ) Accumulated deficit ( 207,953 ) ( 198,266 ) Total shareholde

View Full Filing

View this 10-Q filing on SEC EDGAR