Vaccinex, Inc. 10-Q: Warrants and Purchase Agreements Detailed

TL;DR

Vaccinex 10-Q out: details on warrants & purchase agreements from Feb/Mar '24. Fiscal year ends Dec 31.

AI Summary

Vaccinex, Inc. filed its 10-Q for the period ending June 30, 2024, reporting on its financial condition and business operations. The filing details various financial instruments and events, including private placement warrants issued on February 6, 2024, and a securities purchase agreement dated March 28, 2024. The company's fiscal year ends on December 31.

Why It Matters

This filing provides insight into Vaccinex's financial activities and capital raising efforts, which are crucial for its ongoing research and development in the pharmaceutical sector.

Risk Assessment

Risk Level: medium — The filing involves financial instruments and capital raising activities, which inherently carry financial risks for investors.

Key Numbers

• 1231 — Fiscal Year End (Indicates the end of the company's annual accounting period.)

Key Players & Entities

• VACCINEX, INC. (company) — Filer of the 10-Q report
• 2024-06-30 (date) — End of the reporting period for the 10-Q
• 0000950170-24-097217 (other) — Accession number for the filing
• 2024-08-14 (date) — Filing date of the 10-Q
• 2024-02-06 (date) — Date of Private Placement Warrants issuance
• 2024-03-28 (date) — Date of Securities Purchase Agreement

FAQ

Key Financial Figures

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

Filing Documents

• vcnx-20240630.htm (10-Q) — 1705KB
• vcnx-ex31_1.htm (EX-31.1) — 21KB
• vcnx-ex31_2.htm (EX-31.2) — 21KB
• vcnx-ex32_1.htm (EX-32.1) — 11KB
• 0000950170-24-097217.txt ( ) — 7623KB
• vcnx-20240630.xsd (EX-101.SCH) — 1273KB
• vcnx-20240630_htm.xml (XML) — 1229KB

– 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 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1A.

Risk Factors

Risk Factors 36 Item 6. Exhibits 38

- 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 June 30, 2024 As of December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 233 $ 1,535 Accounts receivable 1,045 961 Prepaid expenses and other current assets 910 853 Derivative asset 14 - Total current assets 2,202 3,349 Property and equipment, net 106 136 Operating lease right-of-use asset 59 146 TOTAL ASSETS $ 2,367 $ 3,631 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 3,243 $ 2,039 Accrued expenses 1,751 1,242 Deferred revenue 12 63 Current portion of long-term debt 63 75 Operating lease liability 59 146 Warrant liability 103 2,351 Total current liabilities 5,231 5,916 Long-term debt - 26 TOTAL LIABILITIES 5,231 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 June 30, 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 June 30, 2024 and December 31, 2023, respectively 1,379 - Common stock, par value of $ 0.0001 per share; 100,000,000 shares authorized as of June 30, 2024, and December 31, 2023; 1,584,848 and 892,622 shares issued as of June 30, 2024 and December 31, 2023, respectively; 1,584,843 and 892,617 shares outstanding as of June 30, 2024 and December 31, 2023, respectively 1 - Additional paid-in capital 345,222 337,627 Treasury stock, at cost; 5 shares of common stock as of June 30, 2024, and December 31, 2023, respectively ( 11 ) ( 11 ) Accumulated deficit ( 349,455 ) ( 339,927 ) TOTAL STOCKHOLDERS' EQUITY/(DEFICIT) ( 2,864 ) ( 2,311

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