Kiora Pharmaceuticals Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Kiora Pharmaceuticals Inc. has filed its Q1 2024 10-Q report, detailing financial data and corporate history.</b>

AI Summary

KIORA PHARMACEUTICALS INC (KPHMW) filed a Quarterly Report (10-Q) with the SEC on May 10, 2024. Kiora Pharmaceuticals Inc. filed a 10-Q report for the period ending March 31, 2024. The company's former name was Eyegate Pharmaceuticals Inc., with a name change date of August 11, 2006. The filing includes data related to various preferred stock series (A, B, C, D, E, F) as of March 31, 2024, and December 31, 2023. Financial data points such as common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income are detailed for multiple periods. The company is incorporated in Delaware and operates within the Pharmaceutical Preparations industry (SIC 2834).

Why It Matters

For investors and stakeholders tracking KIORA PHARMACEUTICALS INC, this filing contains several important signals. This filing provides an update on Kiora Pharmaceuticals' financial position and equity structure, including details on preferred stock series, which is crucial for investors to assess the company's capital structure and potential dilution. Understanding the historical name change and the specific financial line items reported in the 10-Q is essential for tracking the company's evolution and financial health within the pharmaceutical sector.

Risk Assessment

Risk Level: low — KIORA PHARMACEUTICALS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags indicating high risk, but detailed financial analysis is required for a full risk assessment.

Analyst Insight

Investors should review the detailed financial statements and disclosures within the 10-Q to understand Kiora Pharmaceuticals' current financial health and strategic direction.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-10 — Filing Date (Filed as of date)
• 001-36672 — SEC File Number (SEC file number for the company)

Key Players & Entities

• KIORA PHARMACEUTICALS INC (company) — Filer name
• EYEGATE PHARMACEUTICALS INC (company) — Former company name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-10 (date) — Filed as of date
• DE (jurisdiction) — State of incorporation
• 2834 (industry_code) — Standard Industrial Classification

FAQ

Industry Context

Kiora Pharmaceuticals Inc. operates in the Pharmaceutical Preparations industry, which involves the manufacturing of drugs and medicines.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures to the SEC.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue, expenses, and cash flow.
2. Examine the equity structure, including preferred stock details, to understand capital composition.
3. Review any disclosures related to business operations, risks, and legal proceedings.

Key Dates

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

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial condition between annual reports.)

SIC

Standard Industrial Classification code used to classify industries. (Helps categorize Kiora Pharmaceuticals within the broader pharmaceutical sector.)

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing an update from the previous year-end report (10-K).

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value KPRX The Nasdaq Capital Marke

Filing Documents

• kprx-20240331.htm (10-Q) — 699KB
• kprx-20240331xexx311.htm (EX-31.1) — 7KB
• kprx-20240331xexx312.htm (EX-31.2) — 7KB
• kprx-20240331xexx321.htm (EX-32.1) — 4KB
• kprx-20240331xexx322.htm (EX-32.2) — 4KB
• 0001372514-24-000053.txt (&nbsp;) — 5051KB
• kprx-20240331.xsd (EX-101.SCH) — 48KB
• kprx-20240331_cal.xml (EX-101.CAL) — 51KB
• kprx-20240331_def.xml (EX-101.DEF) — 213KB
• kprx-20240331_lab.xml (EX-101.LAB) — 618KB
• kprx-20240331_pre.xml (EX-101.PRE) — 397KB
• kprx-20240331_htm.xml (XML) — 508KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 4 Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 4 Condensed Consolidated Statements of Operations and Comprehensive Income ( Loss ) (unaudited) for the Three Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statement of Stockholders' Equity (unaudited) for the Three Months Ended March 31, 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows (unaudited) for the Three Months Ended March 31, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements (unaudited) 9 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 23 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 28

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 29 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 30 Item 6. Exhibits 30

SIGNATURES

SIGNATURES 31 1 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains statements that are not statements of historical fact and are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. The forward-looking statements are principally, but not exclusively, contained in "Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations." These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements include, but are not limited to, statements about management's confidence or expectations, and our plans, objectives, expectations, and intentions that are not historical facts. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "could," "would," "expects," "plans," "anticipates," "believes," "goals," "foreseeable," "sees," "estimates," "projects," "predicts," "intends," "think," "potential," "objectives," "optimistic," "strategy," and similar expressions intended to identify forward-looking statements. These statements reflect our current views with respect to future events and are based on assumptions and subject to risks and uncertainties. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements include, but are not limited to, statements about: the timing and success of preclinical studies and clinical trials conducted by us and our development partners; the ability to obtain and maintain regulatory approval of our product candidates, and the labeling for any approved products; the scope, progress, expansion, and costs

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements KIORA PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS March 31, 2024 (unaudited) December 31, 2023 ASSETS Current Assets: Cash and Cash Equivalents $ 31,276,330 $ 2,454,684 Prepaid Expenses and Other Current Assets 206,671 233,382 Collaboration Receivables 189,905 — Tax Receivables 1,808,787 2,049,965 Total Current Assets 33,481,693 4,738,031 Non-Current Assets: Property and Equipment, Net 12,918 8,065 Restricted Cash 4,084 4,267 Intangible Assets and In-Process R&D, Net 8,807,600 8,813,850 Operating Lease Assets with Right-of-Use 94,298 106,890 Other Assets 39,414 40,767 Total Assets $ 42,440,007 $ 13,711,870 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts Payable $ 323,062 $ 206,260 Accrued Expenses 1,222,078 1,380,666 Operating Lease Liabilities 47,851 47,069 Total Current Liabilities 1,592,991 1,633,995 Non-Current Liabilities: Contingent Consideration 5,116,765 5,128,959 Deferred Tax Liability 779,440 779,440 Operating Lease Liabilities 46,448 59,822 Total Non-Current Liabilities 5,942,653 5,968,221 Total Liabilities 7,535,644 7,602,216 Commitments and Contingencies (Note 8) Stockholders' Equity: Preferred Stock, $ 0.01 Par Value: 10,000,000 shares authorized; 3,750 designated Series A, 0 shares issued and outstanding; 10,000 designated Series B, 0 shares issued and outstanding; 10,000 shares designated Series C, 0 shares issued and outstanding; 20,000 shares designated Series D, 7 shares issued and outstanding; 1,280 shares designated Series E, 0 shares issued and outstanding; 3,908 shares designated Series F, 420 issued and outstanding at March 31, 2024 and December 31, 2023, respectively 4 4 Common Stock, $ 0.01 Par Value: 50,000,000 shares authorized; 26,256,197 and 7,705,640 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 262,584 77,078 Additional Paid-In Capital 168,429,797 153,192,228 Accumulated Deficit ( 133,523,648 )

View Full Filing

View this 10-Q filing on SEC EDGAR