GT Biopharma Files Q3 2024 10-Q
Ticker: GTBP · Form: 10-Q · Filed: Nov 14, 2024 · CIK: 109657
Sentiment: neutral
Topics: 10-Q, financials, biopharma
TL;DR
GT Biopharma filed its Q3 10-Q. Check financials.
AI Summary
GT Biopharma, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported financial results for the third quarter and the first nine months of the year. Specific financial figures and operational details are provided within the filing.
Why It Matters
This filing provides investors with an update on GT Biopharma's financial health and operational performance for the third quarter of 2024, crucial for assessing the company's trajectory.
Risk Assessment
Risk Level: medium — As a biopharmaceutical company, GT Biopharma faces inherent risks related to drug development, regulatory approvals, and market competition.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
- 2024-11-14 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
- 2024-01-01 — Year-to-Date Start Date (Marks the beginning of the fiscal year for the reported period.)
- 2023-12-31 — Previous Fiscal Year End (Provides a comparative point to the prior fiscal year's financial standing.)
Key Players & Entities
- GT Biopharma, Inc. (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-11-14 (date) — Filing date of the 10-Q
- OXIS INTERNATIONAL INC (company) — Former company name
- DDI PHARMACEUTICALS INC (company) — Former company name
- DIAGNOSTIC DATA INC /DE/ (company) — Former company name
FAQ
What is the primary business of GT Biopharma, Inc.?
GT Biopharma, Inc. is primarily involved in the Pharmaceutical Preparations industry, as indicated by its SIC code [2834].
When was the current 10-Q filing submitted to the SEC?
The 10-Q filing was submitted on November 14, 2024.
What is the fiscal year end for GT Biopharma, Inc.?
The company's fiscal year ends on December 31st.
Has GT Biopharma, Inc. operated under different names previously?
Yes, the company has formerly been known as OXIS INTERNATIONAL INC, DDI PHARMACEUTICALS INC, and DIAGNOSTIC DATA INC /DE/.
What is the reporting period covered by this 10-Q filing?
This 10-Q filing covers the period ending September 30, 2024.
Filing Stats: 4,423 words · 18 min read · ~15 pages · Grade level 16.5 · Accepted 2024-11-14 16:15:39
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) — 952KB
- 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) — 297KB
- form10-q_002.jpg (GRAPHIC) — 66KB
- form10-q_003.jpg (GRAPHIC) — 15KB
- form10-q_004.jpg (GRAPHIC) — 85KB
- form10-q_005.jpg (GRAPHIC) — 15KB
- form10-q_006.jpg (GRAPHIC) — 12KB
- 0001493152-24-045892.txt ( ) — 6293KB
- gtbp-20240930.xsd (EX-101.SCH) — 39KB
- gtbp-20240930_cal.xml (EX-101.CAL) — 34KB
- gtbp-20240930_def.xml (EX-101.DEF) — 171KB
- gtbp-20240930_lab.xml (EX-101.LAB) — 320KB
- gtbp-20240930_pre.xml (EX-101.PRE) — 252KB
- form10-q_htm.xml (XML) — 847KB
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 28 Item 4.
Controls and Procedures
Controls and Procedures 28
OTHER INFORMATION
PART II OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 29 Item 6. Exhibits 30
SIGNATURES
SIGNATURES 31 2 GT BIOPHARMA, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets September 30, 2024 December 31, 2023 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 6,418,000 $ 1,079,000 Restricted cash 93,000 — Short-term investments — 12,893,000 Prepaid expenses and other current assets 248,000 84,000 Total Current Assets 6,759,000 14,056,000 Operating lease right-of-use asset — 53,000 TOTAL ASSETS $ 6,759,000 $ 14,109,000 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 2,612,000 $ 4,328,000 Accrued expenses 1,868,000 1,195,000 Current operating lease liability — 58,000 Warrant liability 182,000 1,052,000 Total Current Liabilities 4,662,000 6,633,000 Stockholders' Equity Convertible Preferred stock, par value $ 0.01 , 15,000,000 shares authorized Series C - 96,230 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 1,000 1,000 Common stock, par value $ 0.001 , 250,000,000 shares authorized, 2,234,328 and 1,380,633 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 2,000 1,000 Additional paid in capital 693,546,000 689,539,000 Accumulated deficit ( 691,452,000 ) ( 682,065,000 ) Total Stockholders' Equity 2,097,000 7,476,000 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 6,759,000 $ 14,109,000 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 2024 2023 2024 2023 For The Three Months Ended For the Nine Months Ended September 30, September 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Operating Expenses: Research and development $ 1,307,000 $ 1,364,000 $ 3,868,000 $ 5,109,000 Selling, general and administrative (including $ 0 and $ 547,000 from