Kiora Pharmaceuticals Files Q2 2024 10-Q

TL;DR

Kiora Pharma (KPRX) dropped its Q2 10-Q. Check financials.

AI Summary

Kiora Pharmaceuticals Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as Eyegate Pharmaceuticals Inc., is in the pharmaceutical preparations industry. Key financial details and operational updates for the second quarter of 2024 are presented in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Kiora Pharmaceuticals, crucial for understanding the company's trajectory in the competitive pharmaceutical sector.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Kiora Pharmaceuticals faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 2024-06-30 — Period End Date (Latest financial reporting period)
• 2023-12-31 — Previous Year End Date (For comparative analysis)

Key Players & Entities

• KIORA PHARMACEUTICALS INC (company) — Filer
• EYEGATE PHARMACEUTICALS INC (company) — Former company name
• 20240630 (date) — Period of report
• 20240809 (date) — Filing date
• 001-36672 (other) — SEC File Number

FAQ

Key Financial Figures

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

Filing Documents

• kprx-20240630.htm (10-Q) — 1029KB
• kprx-20240630xexx311.htm (EX-31.1) — 7KB
• kprx-20240630xexx312.htm (EX-31.2) — 7KB
• kprx-20240630xexx321.htm (EX-32.1) — 4KB
• kprx-20240630xexx322.htm (EX-32.2) — 4KB
• 0001372514-24-000104.txt ( ) — 6587KB
• kprx-20240630.xsd (EX-101.SCH) — 52KB
• kprx-20240630_cal.xml (EX-101.CAL) — 69KB
• kprx-20240630_def.xml (EX-101.DEF) — 265KB
• kprx-20240630_lab.xml (EX-101.LAB) — 701KB
• kprx-20240630_pre.xml (EX-101.PRE) — 465KB
• kprx-20240630_htm.xml (XML) — 796KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 4 Condensed Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 4 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited) for the Three and Six Months Ended June 30, 2024 and 2023 5 Condensed Consolidated Statement s of Stockholders' Equity (unaudited) for the Three and Six Months Ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows (unaudited) for the Six Months Ended June 30, 2024 and 2023 10 Notes to Condensed Consolidated Financial Statements (unaudited) 11 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 28 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 34

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 35 Item 3. Defaults Upon Senior Securities 35 Item 4. Mine Safety Disclosures 35 Item 5. Other Information 35 Item 6. Exhibits 35

SIGNATURES

SIGNATURES 36 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," "expect," "plan," "anticipate," "believe," "goal," "foreseeable," "see," "estimate," "project," "intends," "think," "potential," "objective," "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 of developing and com

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements KIORA PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2024 (unaudited) December 31, 2023 ASSETS Current Assets: Cash and Cash Equivalents $ 6,575,394 $ 2,454,684 Short-Term Investments 21,242,671 — Prepaid Expenses and Other Current Assets 339,646 233,382 Collaboration Receivables 1,341,297 — Tax and Other Receivables 2,331,797 2,049,965 Total Current Assets 31,830,805 4,738,031 Non-Current Assets: Property and Equipment, Net 63,487 8,065 Restricted Cash 4,179 4,267 Intangible Assets and In-Process R&D, Net 8,801,350 8,813,850 Operating Lease Assets with Right-of-Use 82,322 106,890 Other Assets 32,122 40,767 Total Assets $ 40,814,265 $ 13,711,870 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts Payable $ 268,638 $ 206,260 Accrued Expenses 1,345,192 1,380,666 Operating Lease Liabilities 42,126 47,069 Total Current Liabilities 1,655,956 1,633,995 Non-Current Liabilities: Contingent Consideration 5,236,999 5,128,959 Deferred Tax Liability 779,440 779,440 Operating Lease Liabilities 40,197 59,822 Total Non-Current Liabilities 6,056,636 5,968,221 Total Liabilities 7,712,592 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 June 30, 2024 and December 31, 2023, respectively 4 4 Common Stock, $ 0.01 Par Value: 150,000,000 and 50,000,000 shares authorized; 2,970,545 and 856,182 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 267,373 77,078 Additional Paid-In Capital 168,

View Full Filing

View this 10-Q filing on SEC EDGAR