International Stem Cell Corp Files Q2 2024 10-Q

TL;DR

ISC 10-Q filed: Financials updated for Q2 2024. Check assets & liabilities.

AI Summary

International Stem Cell Corp filed its 10-Q for the period ending June 30, 2024. The company reported on its financial condition and results of operations, including details on its machinery and equipment, and various stock and debt instruments. The filing also references its former name, BTHC III INC., and its incorporation in Delaware.

Why It Matters

This filing provides investors with an update on the financial health and operational status of International Stem Cell Corp, crucial for understanding its current market position and future prospects.

Risk Assessment

Risk Level: medium — As a company in the pharmaceutical preparations sector, it faces inherent risks related to research, development, and market approval.

Key Numbers

• 20240630 — Reporting Period End (Quarterly financial update)
• 20240813 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• International Stem Cell CORP (company) — Filer
• BTHC III INC. (company) — Former Company Name
• 20240630 (date) — Reporting Period End Date
• 20240813 (date) — Filing Date
• 9745 BUSINESSPARK AVENUE, SAN DIEGO, CA 92131 (address) — Business and Mail Address

FAQ

Filing Documents

• isco-20240630.htm (10-Q) — 1698KB
• isco-ex31_1.htm (EX-31.1) — 12KB
• isco-ex31_2.htm (EX-31.2) — 12KB
• isco-ex32_1.htm (EX-32.1) — 7KB
• isco-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-24-096128.txt ( ) — 8713KB
• isco-20240630.xsd (EX-101.SCH) — 1043KB
• isco-20240630_htm.xml (XML) — 1960KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1. Condensed Consolidated Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets as of June 30, 2024 (Unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 (Unaudited) 4 Condensed Consolidated Statements of Changes in Redeemable Convertible Preferred Stock and Stockholders' Deficit for the three and six months ended June 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7 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 20 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 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 29

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Condensed Consolidated Financi al Statements

Item 1. Condensed Consolidated Financi al Statements International Stem Cell Corporation and Subsidiaries Condensed Consolida ted Balance Sheets (In thousands, except share and par value data) (Unaudited) June 30, December 31, 2024 2023 Assets Current assets: Cash $ 1,290 $ 1,588 Accounts receivable, net 810 574 Inventories 1,415 1,263 Prepaid expenses and other current assets 304 96 Total current assets 3,819 3,521 Non-current inventories 240 266 Property and equipment, net 286 215 Intangible assets, net 758 800 Right-of-use assets 460 557 Deposits and other assets 31 31 Total assets $ 5,594 $ 5,390 Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Deficit Current liabilities: Accounts payable $ 377 $ 364 Accrued liabilities 572 485 Operating lease liabilities, current 302 276 Advances 250 250 Related party note payable 3,523 3,457 Total current liabilities 5,024 4,832 Operating lease liabilities, net of current portion 286 445 Total liabilities 5,310 5,277 Commitments and contingencies (Note 8) Series D redeemable convertible preferred stock, $ 0.001 par value; 50 shares authorized; 43 shares issued and outstanding; liquidation preference of $ 4,300 at June 30, 2024 and December 31, 2023 4,300 4,300 Stockholders' Deficit: Non-redeemable convertible preferred stock, $ 0.001 par value; 10,004,310 and 10,004,310 shares authorized; 5,254,310 and 5,254,310 shares issued and outstanding; liquidation preference of $ 9,804 and $ 9,796 at June 30, 2024 and December 31, 2023, respectively 5 5 Common stock, $ 0.001 par value; 120,000,000 shares authorized; 8,004,389 shares issued and outstanding at June 30, 2024 and December 31, 2023 8 8 Additional paid-in capital 106,542 106,276 Accumulated deficit ( 110,571 ) ( 110,476 ) Total stockholders' deficit ( 4,016 )

View Full Filing

View this 10-Q filing on SEC EDGAR