Orgenesis Inc. Files Q1 2024 10-Q Report

TL;DR

Orgenesis Q1 2024 10-Q filed. Financials and operations update.

AI Summary

Orgenesis Inc. filed its Q1 2024 10-Q report on May 20, 2024, covering the period ending March 31, 2024. The company, operating in the Pharmaceutical Preparations sector (SIC 2834), is incorporated in Nevada and headquartered in Germantown, MD. The filing details financial information and business operations for the first quarter of the fiscal year.

Why It Matters

This filing provides investors with a quarterly update on Orgenesis Inc.'s financial health and operational performance, crucial for understanding the company's trajectory in the pharmaceutical sector.

Risk Assessment

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

Key Numbers

• Q1 2024 — Reporting Period (Covers the first quarter of the fiscal year ending March 31, 2024.)
• 20240520 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• Orgenesis Inc. (company) — Filer of the 10-Q report
• 20240331 (date) — End of the reporting period
• 20240520 (date) — Date of filing
• 2834 (industry_code) — Standard Industrial Classification for Pharmaceutical Preparations
• Germantown, MD (location) — Company headquarters and mailing address

FAQ

Key Financial Figures

• $1 thousand — 9 ) * Represents an amount lower than $1 thousand The accompanying notes are an integra

Filing Documents

• form10-q.htm (10-Q) — 1056KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 17KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• logo_001.jpg (GRAPHIC) — 56KB
• 0001493152-24-020662.txt ( ) — 5789KB
• orgs-20240331.xsd (EX-101.SCH) — 48KB
• orgs-20240331_cal.xml (EX-101.CAL) — 74KB
• orgs-20240331_def.xml (EX-101.DEF) — 205KB
• orgs-20240331_lab.xml (EX-101.LAB) — 374KB
• orgs-20240331_pre.xml (EX-101.PRE) — 285KB
• form10-q_htm.xml (XML) — 844KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION ITEM 1

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Loss and Comprehensive Loss for the Three Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Changes in Equity for the three months ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 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 19 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 27

- OTHER INFORMATION

PART II - OTHER INFORMATION 28 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 31 ITEM 3. Defaults Upon Senior Securities 31 ITEM 4. Mine Safety Disclosures 31 ITEM 5. Other Information 31 ITEM 6. Exhibits 32

SIGNATURES

SIGNATURES 33 2 PART I –FINANCIAL INFORMATION Item 1. Financial Statements ORGENESIS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (U.S. Dollars, in thousands, except share and per share amounts) (Unaudited) As of March 31, 2024 December 31, 2023 Assets CURRENT ASSETS: Cash and cash equivalents $ 80 $ 837 Restricted cash 485 642 Accounts receivable, net of credit losses of $ 29,760 as of March 31, 2024 ($ 0 as of December 31, 2023) 245 88 Prepaid expenses and other receivables 1,112 2,017 Receivables from related parties - 458 Inventory 34 34 TOTAL CURRENT ASSETS 1,956 4,076 NON-CURRENT ASSETS: Deposits $ 255 $ 38 Investments in associates 8 8 Property, plant and equipment, net 16,404 1,475 Intangible assets, net 8,950 7,375 Operating lease right-of-use assets 1,804 351 Goodwill 1,211 1,211 Other assets 332 18 TOTAL NON-CURRENT ASSETS 28,964 10,476 TOTAL ASSETS $ 30,920 $ 14,552 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 ORGENESIS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Continued) (U.S. Dollars, in thousands, except share and per share amounts) (Unaudited) As of March 31, 2024 December 31, 2023 Liabilities net of (Capital Deficiency) CURRENT LIABILITIES: Accounts payable $ 13,707 $ 6,451 Accounts payable related Parties 2,697 133 Accounts payable 2,697 133 Accrued expenses and other payables 4,106 2,218 Income tax payable 786 740 Employees and related payables 1,529 1,079 Other payable related parties - 52 Advance payments on account of grant 2,695 2,180 Short-term loans 626 650 Current maturities of finance leases 65 18 Current maturities of operating leases 476 216 Short-term and current maturities of convertible loans 2,344 2,670 TOTAL CURRENT LIABILITIES 29,031 16,407 LONG-TERM LIABILITIES: Non-current operating leases $ 1,274 $ 96 L

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View this 10-Q filing on SEC EDGAR