Chromocell Therapeutics Files Q2 2024 10-Q
Ticker: PTHS · Form: 10-Q · Filed: 2024-08-13T00:00:00.000Z
Sentiment: neutral
Topics: 10-Q, financials, biotech
TL;DR
Chromocell's Q2 10-Q is in: check financials and operations for the period ending June 30, 2024.
AI Summary
Chromocell Therapeutics Corp filed its 10-Q for the period ending June 30, 2024. The company reported financial results and operational updates. Specific financial figures and strategic developments are detailed within the filing.
Why It Matters
This filing provides investors and stakeholders with a crucial update on Chromocell Therapeutics' financial health and operational progress during the second quarter of 2024.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial and operational information that could impact the company's stock price, but it does not represent a new, immediate, or catastrophic risk.
Key Numbers
- 2024-06-30 — Period End Date (The end of the reporting period for this 10-Q filing.)
- 2024-08-13 — Filing Date (The date the 10-Q was officially filed with the SEC.)
Key Players & Entities
- Chromocell Therapeutics Corp (company) — Filer of the 10-Q report
- 0001753926-24-001423 (other) — Accession number for the filing
- 20240630 (date) — Conformed period of report
- 20240813 (date) — Filed as of date
- 08902 (other) — ZIP code for business and mail address
FAQ
What is the fiscal year end for Chromocell Therapeutics Corp?
The fiscal year end for Chromocell Therapeutics Corp is December 31.
What is the SIC code for Chromocell Therapeutics Corp?
The Standard Industrial Classification (SIC) code for Chromocell Therapeutics Corp is 2836, which corresponds to Biological Products (No Diagnostic Substances).
What is the SEC file number for Chromocell Therapeutics Corp?
The SEC file number for Chromocell Therapeutics Corp is 001-41964.
What is the business address of Chromocell Therapeutics Corp?
The business address is 685 US Highway One, North Brunswick, NJ 08902.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending June 30, 2024.
Filing Stats: 4,509 words · 18 min read · ~15 pages · Grade level 16.1 · Accepted 2024-08-13 16:31:12
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share CHRO The NYSE American LL
Filing Documents
- g084373_10q.htm (10-Q) — 1156KB
- g084373_ex31-1.htm (EX-31.1) — 13KB
- g084373_ex32-1.htm (EX-32.1) — 8KB
- 0001753926-24-001423.txt ( ) — 5054KB
- chro-20240630.xsd (EX-101.SCH) — 44KB
- chro-20240630_cal.xml (EX-101.CAL) — 33KB
- chro-20240630_def.xml (EX-101.DEF) — 142KB
- chro-20240630_lab.xml (EX-101.LAB) — 359KB
- chro-20240630_pre.xml (EX-101.PRE) — 234KB
- g084373_10q_htm.xml (XML) — 708KB
: FINANCIAL INFORMATION
PART I: FINANCIAL INFORMATION
Financial Statements (unaudited)
Item 1. Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations 2 Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) 3 Condensed Consolidated Statements of Cash Flows 5 Notes to Condensed Consolidated Financial Statements 6
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 31
Controls and Procedures
Item 4. Controls and Procedures 31
OTHER INFORMATION
PART II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 32
Risk Factors
Item 1A. Risk Factors 33
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 33
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 33
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 33
Other Information
Item 5. Other Information 33
Exhibits
Item 6. Exhibits 34
SIGNATURES
SIGNATURES 35 PART I: FINANCIAL INFORMATION Item 1. Financial Statements CHROMOCELL THERAPEUTICS CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2024 (Unaudited) December 31, 2023 ASSETS CURRENT ASSETS Cash $ 2,405,098 $ 96,391 Prepaid expenses 158,102 — Due from Chromocell Corporation 40,400 — TOTAL CURRENT ASSETS 2,603,600 96,391 TOTAL ASSETS $ 2,603,600 $ 96,391 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Accounts payable and accrued expenses $ 835,408 $ 4,620,925 Accrued compensation 363,429 645,947 Bridge loan, net of debt discount — 316,324 Loan payable, net of debt discount 1,455,416 202,279 Loan payable - related party, net of debt discount 131,868 750,082 Due to Chromocell Corporation — 5,386 TOTAL CURRENT LIABILITIES 2,786,121 6,540,943 TOTAL LIABILITIES 2,786,121 6,540,943 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' DEFICIT Preferred stock Series A, $ 0.0001 par value, 700,000 shares authorized, 0 and 600,000 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively — 60 Preferred stock Series C, $ 0.0001 par value, 5,000 shares authorized, 2,600 and 0 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively — — Common stock, $ 0.0001 par value, 200,000,000 shares authorized, 5,823,166 and 3,906,300 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 584 391 Additional paid in capital 17,670,493 7,074,646 Accumulated deficit ( 17,853,598 ) ( 13,519,649 ) TOTAL STOCKHOLDERS' DEFICIT ( 182,521 ) ( 6,444,552 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 2,603,600 $ 96,391 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. Note: Share and per share amounts have been retroactively adjusted to reflect the impact of a 9-for-1