Acasti Pharma 10-Q: Financials & Warrant Adjustments

TL;DR

Acasti Pharma 10-Q filed. Financials look stable, warrant adjustments noted. Keep an eye on R&D.

AI Summary

Acasti Pharma Inc. filed its 10-Q for the period ending June 30, 2024. The company reported on its financial position and operations, including details on common stock, additional paid-in capital, and fair value adjustments for warrants. Key dates mentioned include September 25, 2023, for a purchase agreement and private placement, and April 1, 2024, for stock options.

Why It Matters

This filing provides insight into Acasti Pharma's financial health and strategic activities, including its capital structure and any adjustments related to financial instruments.

Risk Assessment

Risk Level: medium — The filing contains details about financial instruments and potential future obligations, which can introduce financial risk.

Key Numbers

• N/A — Revenue (Specific revenue figures not detailed in the provided snippet.)
• N/A — Net Income (Specific net income figures not detailed in the provided snippet.)
• N/A — Cash Flow (Specific cash flow figures not detailed in the provided snippet.)

Key Players & Entities

• Acasti Pharma Inc. (company) — Filer of the 10-Q
• 2024-06-30 (date) — End of reporting period
• 2023-09-25 (date) — Date of purchase agreement and private placement
• 2024-04-01 (date) — Start date for stock option plan

FAQ

Filing Documents

• acst-20240630.htm (10-Q) — 1071KB
• 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
• img181343341_0.jpg (GRAPHIC) — 52KB
• img181343341_1.jpg (GRAPHIC) — 19KB
• img181343341_2.jpg (GRAPHIC) — 99KB
• img181343341_3.jpg (GRAPHIC) — 14KB
• img181343341_4.jpg (GRAPHIC) — 67KB
• img181343341_5.jpg (GRAPHIC) — 63KB
• img181343341_6.jpg (GRAPHIC) — 40KB
• 0000950170-24-094348.txt ( ) — 5580KB
• acst-20240630.xsd (EX-101.SCH) — 814KB
• acst-20240630_htm.xml (XML) — 619KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 5 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 17 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 33 Item 1A.

Risk Factors

Risk Factors 33 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33 Item 3. Defaults Upon Senior Securities 33 Item 4. Mine Safety Disclosures 33 Item 5. Other Information 33 Item 6. Exhibits 33 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This quarterly report contains information that may be forward-looking statements within the meaning of Canadian securities laws and forward-looking statements within the meaning of U.S. federal securities laws, both of which we refer to 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 historical facts. Forward-looking statements in this quarterly report include, among other things, information or statements about: our ability to build a late-stage pharmaceutical company focused in rare and orphan diseases and, on developing and commercializing products that improve clinical outcomes using our novel drug delivery technologies; our ability to apply new proprietary formulations to existing pharmaceutical compounds to achieve enhanced efficacy, faster onset of action, reduced side effects, and more convenient drug delivery that can result in increased patient compliance; the potential for our drug candidates to receive orphan drug designation from the U.S. Food and Drug Administration ("FDA") or regulatory approval under the Section 505(b)(2) regulatory pathway under the Federal Food, Drug and Cosmetic Act ("FDCA"); the future prospects of our GTX-104 drug candidate, including but not limited to GTX-104's potential to be administered to improve the management of hypotension in patients with aneurysmal subarachnoid hemorrhage ("aSAH"); GTX-104's potential to reduce the incidence of vasospa

FINANCIA L INFORMATION

PART I. FINANCIA L INFORMATION

: Financial Information

Item 1: Financial Information Unaudited Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets 6 Condensed Consolidated Statements of Loss and Comprehensive Loss 7 Condensed Consolidated Statements of Shareholders' Equity 8 Condensed Consolidated Statements of Cash Flows 9 Notes to the Unaudited Condensed Consolidated Financial Statements 10 5 ACASTI PHARMA INC. Condensed Consolidated Balance Sheets (Unaudited) June 30, 2024 March 31, 2024 (Expressed in thousands except share data) $ $ Assets Current assets: Cash and cash equivalents 19,394 23,005 Short-term investments 15 — Receivables 398 722 Prepaid expenses 622 283 Total current assets 20,429 24,010 Equipment, net 23 24 Intangible assets 41,128 41,128 Goodwill 8,138 8,138 Total assets 69,718 73,300 Liabilities and Shareholders' equity Current liabilities: Trade and other payables 2,600 1,684 Total current liabilities 2,600 1,684 Derivative warrant liabilities 2,964 4,359 Deferred tax liability 4,790 5,514 Total liabilities 10,354 11,557 Commitments and contingencies (Note 11) Shareholders' equity: Class A common shares, no par value per share; unlimited shares authorized; 10,139,861 and 9,399,404 shares issued and outstanding as of June 30, 2024 and March 31, 2024, respectively 261,038 261,038 Class B, C, D and E common shares, no par value per share; unlimited shares authorized; none issued and outstanding — — Additional paid-in capital 18,100 17,862 Accumulated other comprehensive loss ( 6,038 ) ( 6,038 ) Accumulated deficit ( 213,736 ) ( 211,119 ) Total shareholders' equity 59,364 61,743 Total liabilities and shareholders' equity 69,718 73,300 See accompanying notes to unaudited condensed consolidated financial statements. 6 ACASTI PHARMA INC. Condensed Consolidated Statements of Loss and Comprehensi

View Full Filing

View this 10-Q filing on SEC EDGAR