GT Biopharma, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>GT Biopharma, Inc. filed its Q1 2024 10-Q report, detailing financial performance and corporate structure.</b>

AI Summary

GT Biopharma, Inc. (GTBP) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. GT Biopharma, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal business address is in Brisbane, California. GT Biopharma, Inc. was formerly known as OXIS INTERNATIONAL INC, DDI PHARMACEUTICALS INC, and DIAGNOSTIC DATA INC /DE/. The filing includes financial data for various equity and debt instruments.

Why It Matters

For investors and stakeholders tracking GT Biopharma, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial results and operational updates for GT Biopharma, Inc. Understanding the details within this report is crucial for assessing the company's financial health, strategic direction, and potential risks in the pharmaceutical sector.

Risk Assessment

Risk Level: low — GT Biopharma, Inc. shows low risk based on this filing. The filing is a standard 10-Q report with no immediate red flags, indicating routine financial disclosure.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-Q to understand GT Biopharma's current financial position and future outlook.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-15 — Filing Date (Filed as of date)
• 2024-01-01 — Q1 2024 Start Date (Reporting period)
• 2023-12-31 — Previous Fiscal Year End (Fiscal year end)

Key Players & Entities

• GT Biopharma, Inc. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-15 (date) — Filed as of date
• Brisbane, CA (location) — Business address
• OXIS INTERNATIONAL INC (company) — Former company name
• DDI PHARMACEUTICALS INC (company) — Former company name
• DIAGNOSTIC DATA INC /DE/ (company) — Former company name
• PHARMACEUTICAL PREPARATIONS [2834] (industry) — Standard Industrial Classification

FAQ

Industry Context

GT Biopharma operates within the pharmaceutical preparations industry, focusing on the development and commercialization of biopharmaceutical products.

Regulatory Implications

As a publicly traded company, GT Biopharma is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the financial statements for revenue, expenses, and cash flow.
2. Examine any disclosed risk factors relevant to the pharmaceutical industry.
3. Review the company's business description for updates on product development and strategy.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-15: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, providing the first set of quarterly financial data for the year.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share GTBP Nasdaq Ca

Filing Documents

• form10-q.htm (10-Q) — 764KB
• ex31-1.htm (EX-31.1) — 21KB
• ex31-2.htm (EX-31.2) — 20KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 6KB
• form10-q_001.jpg (GRAPHIC) — 15KB
• form10-q_002.jpg (GRAPHIC) — 66KB
• form10-q_003.jpg (GRAPHIC) — 15KB
• form10-q_004.jpg (GRAPHIC) — 12KB
• form10-q_005.jpg (GRAPHIC) — 85KB
• 0001493152-24-019970.txt (&nbsp;) — 5230KB
• gtbp-20240331.xsd (EX-101.SCH) — 37KB
• gtbp-20240331_cal.xml (EX-101.CAL) — 40KB
• gtbp-20240331_def.xml (EX-101.DEF) — 171KB
• gtbp-20240331_lab.xml (EX-101.LAB) — 317KB
• gtbp-20240331_pre.xml (EX-101.PRE) — 260KB
• form10-q_htm.xml (XML) — 683KB

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 26 Item 4.

Controls and Procedures

Controls and Procedures 26

OTHER INFORMATION

PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 27 Item 6. Exhibits 28

SIGNATURES

SIGNATURES 30 2 GT BIOPHARMA, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (in thousands, except shares and par value) March 31, 2024 December 31, 2023 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 1,950 $ 1,079 Short-term investments 7,857 12,893 Prepaid expenses and other current assets 78 84 Total Current Assets 9,885 14,056 Operating lease right-of-use asset 27 53 TOTAL ASSETS $ 9,912 $ 14,109 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 3,213 $ 4,328 Accrued expenses 963 1,195 Current operating lease liability 30 58 Warrant liability 394 1,052 Total Current Liabilities 4,600 6,633 Total Liabilities $ 4,600 $ 6,633 Stockholders' Equity Convertible Preferred stock, par value $ 0.01 , 15,000,000 shares authorized Series C - 96,230 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 1 1 Common stock, par value $ 0.001 , 250,000,000 shares authorized, 1,380,633 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 1 1 Additional paid in capital 689,641 689,539 Accumulated deficit ( 684,331 ) ( 682,065 ) Total Stockholders' Equity 5,312 7,476 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 9,912 $ 14,109 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 GT BIOPHARMA, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations (in thousands, except per share data) 2024 2023 For The Three Months Ended March 31, 2024 2023 (unaudited) (unaudited) Revenues $ - $ - Operating Expenses: Research and development 777 1,650 Selling, general and administrative (including $ 102 and $ 718 from stock compensation granted to officers, directors and employees during the three months ended March 31, 2024 and 2023, respectively) 2,314 2,015 Loss from Operations

View Full Filing

View this 10-Q filing on SEC EDGAR