Inhibitor Therapeutics, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Inhibitor Therapeutics, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

Inhibitor Therapeutics, Inc. (INTI) filed a Annual Report (10-K) with the SEC on March 29, 2024. Inhibitor Therapeutics, Inc. filed its 2023 Form 10-K on March 29, 2024. The company's fiscal year ends on December 31st. The filing covers the period from January 1, 2023, to December 31, 2023. The company was formerly known as HedgePath Pharmaceuticals, Inc. and COMMONWEALTH BIOTECHNOLOGIES INC. The business address is 4830 W. KENNEDY BLVD., SUITE 600, TAMPA, FL 33609.

Why It Matters

For investors and stakeholders tracking Inhibitor Therapeutics, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of the company's financial health, operational activities, and strategic direction for the past fiscal year, which is crucial for investors to assess performance and future prospects. Understanding the company's historical financial data, including changes in preferred stock, common stock, and retained earnings, is essential for evaluating its financial stability and growth trajectory.

Risk Assessment

Risk Level: medium — Inhibitor Therapeutics, Inc. shows moderate risk based on this filing. The company's financial statements and disclosures in this 10-K filing are critical for assessing its financial health and operational performance, but specific financial figures like revenue, net income, and debt levels are not detailed in the provided header information, necessitating a deeper review of the full document.

Analyst Insight

Review the full 10-K filing to analyze detailed financial statements, including revenue, net income, debt-to-equity ratios, and operational performance metrics to understand the company's current financial standing and future outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-29 — Filing Date (Filed as of date)
• 2023-01-01 — Reporting Period Start Date (Fiscal year 2023)
• 2023-12-31 — Reporting Period End Date (Fiscal year 2023)

Key Players & Entities

• Inhibitor Therapeutics, Inc. (company) — Filer name
• INTI (company) — Ticker symbol
• HedgePath Pharmaceuticals, Inc. (company) — Former company name
• COMMONWEALTH BIOTECHNOLOGIES INC (company) — Former company name
• TAMPA (company) — Business address city
• FL (company) — Business address state

FAQ

Industry Context

Inhibitor Therapeutics, Inc. operates within the pharmaceutical preparations industry. The filing of a 10-K indicates a public company reporting its annual financial and operational results.

Regulatory Implications

The filing is a Form 10-K, which is a mandatory annual report required by the U.S. Securities and Exchange Commission (SEC) for public companies to provide a comprehensive overview of their business and financial condition.

What Investors Should Do

1. Analyze the full 10-K for detailed financial statements, including revenue, expenses, and profitability metrics.
2. Examine the Management's Discussion and Analysis of Financial Condition and Results of Operations section for insights into the company's performance drivers and risks.
3. Review any disclosed risk factors and legal proceedings to understand potential challenges facing the company.

Key Dates

• 2024-03-29: 10-K Filing — Annual report filing date for fiscal year 2023
• 2023-12-31: Fiscal Year End — End date of the reporting period

Year-Over-Year Comparison

This is the 2023 annual report filing. Specific comparative data from the previous year's filing (2022) is not detailed in the header information provided.

Key Financial Figures

• $0.04 — company's common stock on such date of $0.04 per share, as reported by the OTC Marke
• $14.25 m — the Company received a cash payment of $14.25 million, forgiveness of certain debts owe
• $3.0 million — credit for previously paid advances of $3.0 million by Mayne Pharma, after which any furthe

Filing Documents

• form10-k.htm (10-K) — 1444KB
• ex10-6.htm (EX-10.6) — 296KB
• ex23-1.htm (EX-23.1) — 4KB
• ex31-1.htm (EX-31.1) — 15KB
• ex31-2.htm (EX-31.2) — 15KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 7KB
• ex10-6_001.jpg (GRAPHIC) — 56KB
• ex10-6_004.jpg (GRAPHIC) — 2KB
• ex10-6_005.jpg (GRAPHIC) — 3KB
• 0001493152-24-011973.txt (&nbsp;) — 4636KB
• inti-20231231.xsd (EX-101.SCH) — 22KB
• inti-20231231_cal.xml (EX-101.CAL) — 39KB
• inti-20231231_def.xml (EX-101.DEF) — 102KB
• inti-20231231_lab.xml (EX-101.LAB) — 217KB
• inti-20231231_pre.xml (EX-101.PRE) — 172KB
• form10-k_htm.xml (XML) — 420KB

Risk Factors

Risk Factors 18 Item 1B. Unresolved Staff Comments 34 Item 1C. Cybersecurity 35 Item 2. Description of Property 35 Item 3.

Legal Proceedings

Legal Proceedings 35 Item 4. Mine Safety Disclosure 35 PART II Item 5. Market for Common Equity and Related Stockholder Matters 36 Item 6. Reserved 37 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 37 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 8.

Financial Statements

Financial Statements 39 Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure 39 Item 9A.

Controls and Procedures

Controls and Procedures 39 Item 9B. Other Information 40 PART III Item 10. Directors, Executive Officers and Corporate Governance 40 Item 11.

Executive Compensation

Executive Compensation 46 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 50 Item 13. Certain Relationships and Related Transactions, and Director Independence 50 Item 14. Principal Accountant Fees and Services 51 PART IV Item 15. Exhibits, Financial Statement Schedules 51 Item 16. Form 10-K Summary 52 Unless we have indicated otherwise, or the context otherwise requires, references in this Report to "INTI," the "Company," "we," "us" and "our" or similar terms refer to Inhibitor Therapeutics, Inc., a Delaware corporation. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Report and the documents we have filed with the Securities and Exchange Commission (the "SEC") that are incorporated by reference herein contain forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), that involve significant risks and uncertainties. Any statements contained, or incorporated by reference, in this Report that are not statements of historical fact may be forward-looking "intend," "may," "plan," "predict," "project," "will" and other similar terms and phrases, including references to assumptions, we are identifying forward-looking statements. Forward-looking statements involve risks and uncertainties which may cause our actual results, performance or achievements to be materially different from those expressed or implied by those forward-looking statements. A variety of factors, some of which are outside our control, may cause our operating results to fluctuate significantly. They include: acceptance of our business model by investors and potential commercial collaborators; our future capital requirements and our ability to satisfy our capital needs; our ability to commence and complete required clini

Description

Item 1. Description of Business. Overview The Company is a pharmaceutical development company that is focused on developing and ultimately commercializing innovative therapeutics based on already approved active pharmaceuticals that have patent-protected methods of use and/or methods of delivery for patients with certain cancers and certain non-cancerous proliferation disorders. We have explored and expect to continue to explore acquiring or licensing other innovative pre-clinical and clinical stage therapeutics addressing unmet needs for the treatment of cancer and other diseases based on repurposing active ingredients of already approved drugs. Our current primary focus is on the development of therapies initially for basal cell carcinoma ("BCC"), prostate and lung cancers in the United States utilizing itraconazole, a drug currently approved by the FDA to treat fungal infections, and which has an extensive history of safe and effective use in humans. The Company has developed intellectual property and know-how related to the treatment of cancer patients using itraconazole. In particular, on December 12, 2023, the Company entered into an Exclusive License Agreement (the "Agreement") with Johns Hopkins University ("JHU"). Pursuant to the Agreement, JHU granted to the Company the exclusive worldwide patent rights to a Granted US Patent, No. 8,980,930 entitled "New Angiogenesis Inhibitors" (the "Patent"). The Patent relates to the treatment of prostate cancer, BCC including basal cell carcinoma nevus syndrome ("BCCNS"), and lung cancer. Pursuant to the Agreement: (i) the Company has received an exclusive worldwide license to the Patent; (ii) the Company paid JHU an upfront license fee in December 2023, (iii) the Company shall be required to make certain Minimum Annual Royalty ("MAR") payments to JHU no later than January 1st of each calendar year in accordance with an agreed upon schedule, (iv) the Company shall be required to pay to JHU a royalty on cumulati

View Full Filing

View this 10-K filing on SEC EDGAR