VACCINEX, INC. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>VACCINEX, INC. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial activities and warrant-related transactions.</b>

AI Summary

VACCINEX, INC. (VCNX) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. VACCINEX, INC. filed a 10-Q report for the period ending March 31, 2024. The filing references various warrant offerings and private placements occurring in late 2023 and early 2024. Key dates mentioned include March 31, 2024, for fair value measurements and warrant expirations. The company's business address is 1895 Mount Hope Ave, Rochester, NY 14620. The filing includes details on employee equity plans and the Small Business Administration's Paycheck Protection Program.

Why It Matters

For investors and stakeholders tracking VACCINEX, INC., this filing contains several important signals. The report provides a snapshot of the company's financial position and activities during the first quarter of 2024, including details on warrants and equity plans. This filing is crucial for investors to assess the company's financial health, ongoing capital-raising activities, and potential dilution from outstanding warrants.

Risk Assessment

Risk Level: medium — VACCINEX, INC. shows moderate risk based on this filing. The company's financial activities, particularly warrant offerings and private placements, suggest ongoing capital needs and potential dilution, which warrants careful investor scrutiny.

Analyst Insight

Investors should review the details of the warrant offerings and private placements to understand potential future share dilution and the company's financial strategy.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-15 — Filing Date (FILED AS OF DATE)
• 2834 — SIC Code (STANDARD INDUSTRIAL CLASSIFICATION)
• 105,337 — Value (FILING VALUES)
• 2024-02-06 — Date (FebruaryTwoThousandTwentyFourPrivatePlacementMember)
• 2023-10-03 — Date (PublicWarrantsMember)
• 2023-03-30 — Date (MarchTwoThousandTwentyThreePrivatePlacementMember)
• 2020-05-08 — Date (SmallBusinessAdministrationsPaycheckProtectionProgramMember)

Key Players & Entities

• VACCINEX, INC. (company) — FILER
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-15 (date) — FILED AS OF DATE
• 1895 MOUNT HOPE AVE (address) — BUSINESS ADDRESS
• ROCHESTER (city) — BUSINESS ADDRESS
• NY (state) — BUSINESS ADDRESS
• 14620 (zip) — BUSINESS ADDRESS
• VCNX (ticker) — ticker symbol

FAQ

Key Dates

• 2024-03-31: Period End Date — End of the first fiscal quarter of 2024.
• 2024-05-15: Filing Date — Date the 10-Q report was officially submitted to the SEC.
• 2024-02-06: Private Placement Warrant Event — Indicates a specific transaction related to private placement warrants.
• 2023-10-03: Public Warrant Event — Indicates a specific transaction related to public warrants.

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value VCNX Nasdaq Capital Marke

Filing Documents

• vcnx-20240331.htm (10-Q) — 1458KB
• vcnx-ex4_3.htm (EX-4.3) — 26KB
• vcnx-ex4_3.pdf (EX-4.3) — 397KB
• vcnx-ex4_4.htm (EX-4.4) — 26KB
• vcnx-ex4_4.pdf (EX-4.4) — 396KB
• vcnx-ex4_5.htm (EX-4.5) — 26KB
• vcnx-ex4_5.pdf (EX-4.5) — 392KB
• vcnx-ex31_1.htm (EX-31.1) — 21KB
• vcnx-ex31_2.htm (EX-31.2) — 21KB
• vcnx-ex32_1.htm (EX-32.1) — 11KB
• 0000950170-24-060603.txt (&nbsp;) — 8830KB
• vcnx-20240331.xsd (EX-101.SCH) — 1261KB
• vcnx-20240331_htm.xml (XML) — 1147KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Condensed Balance Sheets (Unaudited) 3 Condensed Statements of Operations and Comprehensive Loss (Unaudited) 4 Condensed Statements of Stockholders' Equity (Deficit) (Unaudited) 5 Condensed Statements of Cash Flows (Unaudited) 6 Notes to Condensed 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 23 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 33

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1A.

Risk Factors

Risk Factors 34 Item 6. Exhibits 36

- FINANCI AL INFORMATION

PART I - FINANCI AL INFORMATION

Financial Statements

Item 1. Financial Statements VACCINEX, INC. Condensed Balance Sheets (Unaudited) (in thousands, except share and per share data) As of March 31, 2024 As of December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 2,972 $ 1,535 Accounts receivable 2,775 961 Prepaid expenses and other current assets 1,312 853 Derivative asset 95 - Total current assets 7,154 3,349 Property and equipment, net 110 136 Operating lease right-of-use asset 103 146 TOTAL ASSETS $ 7,367 $ 3,631 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 2,329 $ 2,039 Accrued expenses 1,880 1,242 Deferred revenue 59 63 Current portion of long-term debt 76 75 Operating lease liability 103 146 Warrant liability 259 2,351 Total current liabilities 4,706 5,916 Long-term debt 6 26 TOTAL LIABILITIES 4,712 5,942 Commitments and contingencies (Note 6) Stockholders' equity (deficit): Convertible preferred stock (Series A), par value of $ 0.001 per share; 10,000,000 shares authorized, 10 shares issued and outstanding as of March 31, 2024, and no shares authorized, issued or outstanding as of December 31, 2023; with aggregate liquidation preference of $ 1,750,000 and $ 0 as of March 31, 2024 and December 31, 2023, respectively 1,236 - Common stock, par value of $ 0.0001 per share; 100,000,000 shares authorized as of March 31, 2024, and December 31, 2023; 1,584,305 and 892,622 shares issued as of March 31, 2024 and December 31, 2023, respectively; 1,584,300 and 892,617 shares outstanding as of March 31, 2024 and December 31, 2023, respectively 1 - Additional paid-in capital 345,253 337,627 Treasury stock, at cost; 5 shares of common stock as of March 31, 2024, and December 31, 2023, respectively ( 11 ) ( 11 ) Accumulated deficit ( 343,824 ) ( 339,927 ) TOTAL STOCKHOLDERS' EQUITY/(DEFICIT) 2,655 ( 2

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View this 10-Q filing on SEC EDGAR