Rocket Pharmaceuticals, Inc. 10-Q Filing

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share RCKT Nasdaq Glo

Filing Documents

• rckt-20250630.htm (10-Q) — 2160KB
• rckt-ex10_1.htm (EX-10.1) — 136KB
• rckt-ex31_1.htm (EX-31.1) — 18KB
• rckt-ex31_2.htm (EX-31.2) — 18KB
• rckt-ex32_1.htm (EX-32.1) — 14KB
• img174785655_0.jpg (GRAPHIC) — 985KB
• img174785655_1.jpg (GRAPHIC) — 1435KB
• img174785655_2.jpg (GRAPHIC) — 1171KB
• img174785655_3.jpg (GRAPHIC) — 770KB
• 0000950170-25-104996.txt ( ) — 20603KB
• rckt-20250630.xsd (EX-101.SCH) — 1383KB
• rckt-20250630_htm.xml (XML) — 1856KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 6 Item 1.

Financial Statements

Financial Statements 6 Consolidated Balance Sheets as of June 30, 2025 (unaudited) and December 31, 202 4 6 Consolidated Statements of Operations for the three and six months ended June 30, 2025 and 2024 (unaudited ) 7 Consolidated Statements of Comprehensive Loss for the three and six months ended June 30, 2025 and 2024 (unaudited) 8 Consolidated Statements of Stockholders' Equity for the three and six months ended June 30, 2025 and 2024 (unaudited) 9 Consolidated Statements of Cash Flows for the six months ended June 30, 2025 and 2024 (unaudited) 10

Notes to Consolidated Financial Statements (unaudited)

Notes to 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 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 Item 4.

Controls and Procedures

Controls and Procedures 42

- OTHER INFORMATION

PART II - OTHER INFORMATION 43 Item 1.

Legal Proceedings

Legal Proceedings 43 Item 1A.

Risk Factors

Risk Factors 43 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 3. Defaults Upon Senior Securities 44 Item 4. Mine Safety Disclosures 44 Item 5. Other Information 44 Item 6. Exhibits 45

Signatures

Signatures 46 Table of Contents Summary of Abbreviated Terms Rocket Pharmaceuticals, Inc. may be referred to as Rocket, the Company, we, our or us, in this Quarterly Report, unless the context otherwise indicates. Throughout this Quarterly Report, we have used terms which are defined below: AAV Adeno-associated virus IND Investigational New Drug application ACM Arrhythmogenic cardiomyopathy IPR&D In process research and development ASC Accounting Standard Codification KCCQ Kansas City Cardiovascular Questionnaire ASGCT American Society of Gene & Cell Therapy LAD-I Leukocyte Adhesion Deficiency-I ATMP Advanced Therapy Medical Product LAMP2 Lysosome-associated membrane protein 2 BAG3 BLC2-associated athanogene 3 LV Lentiviral vector BAG3-DCM BLC2-associated athanogene 3 mutations associated with dilalted cardiomyopathy MAA Marketing Authorization Application BLA Biologics License Application NYHA New York Heart Association BNP Brain natriuretic peptide Offering Equity offering of shares of common stock, which closed December 12, 2024 cGMP Current Good Manufacturing Practice PDUFA Prescription Drug User Free Act CIRM California Institute for Regenerative Medicine PKD Pyruvate Kinase Deficiency CMC Chemistry Manufacturing Controls PKP2 Plakophilin-2 CODM Chief Operating Decision Maker PKP2-ACM Plakophilin-2 Arrhythmogenic Cardiomyopathy CRL Complete Response Letter PSU Performance Stock Unit Cowen Cowen and Company, LLC PRIME Priority Medicines CTIS Clinical Trials Information Systems Private Placement Issuance of pre-funded warrants on December 12, 2024 DCM Dilated cardiomyopathy R&D Research and development DD Danon disease RBC Red blood cell DNA Deoxyrubonucleic acid Renovacor Renovacor, Inc. acquired on December 1, 2022 ECG Echocardiographic RMAT Regenerative Medicine Advanced Therapy EMA European

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Rocket Pharmaceuticals, Inc. Consolidated Balance Sheets ($ in thousands, except shares and per share amounts) June 30, 2025 December 31, 2024 (unaudited) Assets Current assets: Cash and cash equivalents $ 32,819 $ 163,635 Investments 238,675 208,701 Prepaid expenses and other current assets 5,661 5,847 Total current assets 277,155 378,183 Property and equipment, net 32,524 36,786 Goodwill 39,154 39,154 Intangible assets 25,150 25,150 Restricted cash 1,365 1,362 Deposits 515 529 Operating lease right-of-use assets, net 3,830 4,173 Finance lease right-of-use asset, net 41,286 42,363 Total assets $ 420,979 $ 527,700 Liabilities and stockholders' equity Current liabilities: Accounts payable and accrued expenses $ 40,505 $ 37,827 Operating lease liabilities, current 1,010 1,001 Finance lease liability, current 1,884 1,856 Total current liabilities 43,399 40,684 Operating lease liabilities, non-current 2,928 3,258 Finance lease liability, non-current 19,380 19,383 Other liabilities 1,061 1,141 Total liabilities 66,768 64,466 Commitments and contingencies (Note 13) Stockholders' equity: Preferred stock, $ 0.01 par value, authorized 5,000,000 shares: Series A convertible preferred stock; 300,000 shares designated; 0 shares issued and outstanding - - Series B convertible preferred stock; 300,000 shares designated; 0 shares issued and outstanding - - Common stock, $ 0.01 par value, 180,000,000 shares authorized; 107,884,420 and 106,453,818 shares issued and outstanding as of June 30, 2025, and December 31, 2024, respectively 1,079 1,065 Additional paid-in capital 1,701,608 1,680,219 Accumulated other comprehensive (loss) income ( 107 ) 66 Accumulated deficit ( 1,348,369 ) ( 1,218,116 ) Total stockholders' equity 354,211 463,234 Total liabilit

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