Financials

v3.21.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current Assets    
Cash and cash equivalents $ 76,887 $ 6,227
Prepaid expenses and other current assets 1,749 1,707
Total Current Assets 78,636 7,934
Property and equipment, net 156 174
Right of use asset 239 279
Deposits and other assets 23 23
Total Assets 79,054 8,410
Current Liabilities:    
Accounts payable 621 886
Accrued expenses 854 925
Accrued employee benefits 350 868
Operating lease liability 297 287
Total Current Liabilities 2,122 2,966
Lease liability - long term 108 186
Total Liabilities 2,230 3,152
Commitments and Contingencies
Series A convertible preferred stock, $0.001 par value; 10,000,000 shares authorized; 0 and 120,000 issued and outstanding as of March 31, 2021 and December 31, 2020, respectively 0 12,798
Stockholders' Equity (Deficit):    
Series B convertible preferred stock, $1,000 par value; 10,000,000 shares authorized, 0 issued and outstanding and 3,973 issued and outstanding as of March 31, 2021 and December 31, 2020, respectively 0 2,477
Common stock, $0.001 par value; 200,000,000 shares authorized, 132,044,866 issued and 132,042,538 outstanding at March 31, 2021 and 29,252,253 issued and 29,249,925 outstanding at December 31, 2020 132 29
Additional paid-in capital 339,019 240,821
Accumulated deficit (259,553) (248,094)
Total Synthetic Biologics, Inc. and Subsidiaries Equity (Deficit) 79,598 (4,767)
Non-controlling interest (2,774) (2,773)
Total Stockholders' Equity (Deficit) 76,824 (7,540)
Total Liabilities and Stockholders' Equity (Deficit) $ 79,054 $ 8,410

Source

v3.21.1
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating Costs and Expenses:    
General and administrative $ 1,419,000 $ 1,393,000
Research and development 1,118,000 1,635,000
Total Operating Costs and Expenses 2,537,000 3,028,000
Loss from Operations (2,537,000) (3,028,000)
Other Income :    
Interest income 0 38,000
Total Other Income 0 38,000
Net Loss (2,537,000) (2,990,000)
Net Loss Attributable to Non-controlling Interest (1,000) (26,000)
Net Loss Attributable to Synthetic Biologics, Inc. and Subsidiaries (2,536,000) (2,964,000)
Effect of Series A Preferred Stock Price adjustment (7,402,000) 0
Net Loss Attributable to Common Stockholders $ (11,459,000) $ (3,430,000)
Net Loss Per Share - Basic and Dilutive $ (0.13) $ (0.20)
Weighted average number of shares outstanding during the period - Basic and Dilutive 90,807,693 17,093,920
Series A Preferred Stock [Member]    
Other Income :    
Preferred Stock Dividends, Income Statement Impact $ (24,000) $ (62,000)
Effect of Series A Preferred Stock Price adjustment 7,402,000  
Series B Preferred Stock [Member]    
Other Income :    
Net Loss Attributable to Non-controlling Interest 0 0
Net Loss Attributable to Synthetic Biologics, Inc. and Subsidiaries 0 0
Preferred Stock Dividends, Income Statement Impact $ (1,497,000) $ (404,000)

Source

v3.21.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows From Operating Activities:    
Net loss $ (2,537) $ (2,990)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 101 83
Subsidiary stock issuances to vendor 0 26
Depreciation 33 58
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (42) 297
Right of use asset 39 33
Accounts payable (265) (1,068)
Accrued expenses (71) (714)
Accrued employee benefits (518) (626)
Lease liability (68) (59)
Net Cash Used In Operating Activities (3,328) (4,960)
Cash Flows From Investing Activities:    
Purchases of property and equipment (14) 0
Net Cash Used In Investing Activities (14) 0
Cash Flows From Financing Activities:    
Proceeds from "at the market" stock issuance 65,960 0
Proceeds from issuance of common stock for warrant exercises 8,042 0
Net Cash Provided By Financing Activities 74,002 0
Net increase (decrease) in cash and cash equivalents 70,660 (4,960)
Cash and cash equivalents at the beginning of this period 6,227 15,045
Cash and cash equivalents at the end of this period 76,887 10,085
NONCASH FINANCING ACTIVITIES:    
Effect of Series A Preferred Stock price adjustment 7,402 0
Conversion of Series B Preferred Stock 2,477 669
Deemed dividends for accretion of Series B Preferred Stock discount 1,497 404
In-kind dividends paid in preferred stock $ 23 $ 62

Source