Inhibitor Therapeutics Files Q3 2024 10-Q

TL;DR

INTI filed its Q3 10-Q. Financials updated.

AI Summary

Inhibitor Therapeutics, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial position and operations, including its fiscal year end of December 31st. The company, formerly known as HedgePath Pharmaceuticals, Inc. and COMMONWEALTH BIOTECHNOLOGIES INC, is based in Tampa, Florida.

Why It Matters

This filing provides investors with an update on Inhibitor Therapeutics' financial health and operational status for the third quarter of 2024, crucial for understanding the company's performance and future prospects.

Risk Assessment

Risk Level: low — This filing is a routine quarterly report and does not contain significant new risk factors or material adverse events.

Key Numbers

• 20240930 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
• 20241112 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Inhibitor Therapeutics, Inc. (company) — Filer
• 20240930 (date) — Reporting period end date
• 20241112 (date) — Filing date
• HedgePath Pharmaceuticals, Inc. (company) — Former company name
• COMMONWEALTH BIOTECHNOLOGIES INC (company) — Former company name
• Tampa, Florida (location) — Company address

FAQ

Key Financial Figures

• $0.3 million — h and Development Expenses. We incurred $0.3 million of research and development expenses du
• $0.5 million — ive Expenses. We incurred approximately $0.5 million in general and administrative expenses
• $0.2 m — osed primarily of compensation costs of $0.2 million, professional services fees of $0
• $0.2 million — million, professional services fees of $0.2 million and insurance costs of $0.1 million and
• $0.1 million — of $0.2 million and insurance costs of $0.1 million and remained consistent quarter-over-qu

Filing Documents

• form10-q.htm (10-Q) — 354KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-044473.txt ( ) — 1704KB
• inti-20240930.xsd (EX-101.SCH) — 11KB
• inti-20240930_cal.xml (EX-101.CAL) — 19KB
• inti-20240930_def.xml (EX-101.DEF) — 47KB
• inti-20240930_lab.xml (EX-101.LAB) — 118KB
• inti-20240930_pre.xml (EX-101.PRE) — 90KB
• form10-q_htm.xml (XML) — 142KB

Financial Statements (unaudited)

Financial Statements (unaudited) Condensed Balance Sheets as of September 30, 2024 and December 31, 2023 1 Condensed Statements of Operations for the three and nine months ended September 30, 2024 and 2023 2 Condensed Statements of Stockholders' Equity for the three and nine months ended September 30, 2024 and 2023 3 Condensed Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 4 Notes to Condensed 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 9 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 11 Item 4.

Controls and Procedures

Controls and Procedures 11 Cautionary Note Regarding Forward Looking Statements 12

Other Information

Part II. Other Information Item 1

Legal Proceedings

Legal Proceedings 13 Item 1A.

Risk Factors

Risk Factors 13 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 13 Item 3 Defaults upon Senior Securities 13 Item 4 Mine Safety Disclosures 13 Item 5 Other Information 13 Item 6. Exhibits 13

Signatures

Signatures 14 INHIBITOR THERAPEUTICS, INC. CONDENSED BALANCE SHEETS AS OF SEPTEMBER 30, 2024 AND DECEMBER 31, 2023 (Unaudited) September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 6,378,304 $ 8,839,912 Prepaid expenses and other assets 73,138 109,243 Total current assets 6,451,442 8,949,155 Total assets $ 6,451,442 $ 8,949,155 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 1,706 $ 33,731 Accrued expenses and other liabilities 42,853 631,433 Total current liabilities 44,559 665,164 Deferred revenue 3,000,000 3,000,000 Total liabilities 3,044,559 3,665,164 Commitments and contingencies (Note 6) — — Stockholders' equity: Series A preferred stock, $ 0.0001 par value; 500,000 shares authorized; no shares issued and outstanding at September 30, 2024 and December 31, 2023 — — Series B convertible, redeemable, preferred stock, $ 0.0001 par value; 7,246,377 shares authorized; no shares issued and outstanding at September 30, 2024 and December 31, 2023 — — Undesignated preferred stock, $ 0.0001 par value; 2,253,623 shares authorized; no shares issued and outstanding at September 30, 2024 and December 31, 2023 — — Preferred stock, value — — Common stock, $ 0.0001 par value; 500,000,000 shares authorized; 172,323,545 and 172,023,545 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 17,232 17,202 Additional paid-in capital 54,087,065 54,046,845 Accumulated deficit ( 50,697,414 ) ( 48,780,056 ) Total stockholders' equity 3,406,883 5,283,991 Total liabilities and stockholders' equity $ 6,451,442 $ 8,949,155 See notes to condensed financial statements 1 INHIBITOR THERAPEUTICS, INC. CONDENSED FOR THE THREE-MONTH AND NINE-MONTH PERIODS ENDED SEPTEMBER 30, 2024 AND 2023 (Unaudited) 2024 2023 2024 2023 Three Months Ended September 30, N

Legal Proceedings

Legal Proceedings The Company may from time to time become a party to various legal proceedings arising in the ordinary course of business. The Company is not currently the subject of any pending legal proceedings. 8 Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. The following discussion and analysis should be read in conjunction with the Condensed Financial Statements and Notes thereto included elsewhere in this Quarterly Report. This discussion contains certain forward-looking statements that involve risks and uncertainties. The Company's actual results and the timing of certain events could differ materially from those discussed in these forward-looking statements as a result of certain factors, including, but not limited to, those set forth herein and elsewhere in this Quarterly Report and in the Company's other filings with the SEC. See "Cautionary Note Regarding Forward Looking Statements" below. As used in this Management's Discussion and Analysis of Financial Condition and Results of Operations, unless otherwise indicated, the terms "the Company", "we", "us", "our" and similar terminology refer to Inhibitor Therapeutics, Inc. Background of Our Company We are 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 also 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 BCCNS, prostate and lung cancers in the United States utilizing itraconaz

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View this 10-Q filing on SEC EDGAR