Financials

v3.21.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2021
Dec. 31, 2020
Current Assets    
Cash and cash equivalents $ 72,135 $ 6,227
Prepaid expenses and other current assets 1,422 1,707
Total Current Assets 73,557 7,934
Property and equipment, net 115 174
Right of use asset 1,426 279
Deposits and other assets 23 23
Total Assets 75,121 8,410
Current Liabilities:    
Accounts payable 1,255 886
Accrued expenses 1,009 925
Accrued employee benefits 721 868
Operating lease liability 175 287
Total Current Liabilities 3,160 2,966
Lease liability - long term 1,401 186
Total Liabilities 4,561 3,152
Commitments and Contingencies
Series A Preferred Stock, $0.001 par value; 10,000,000 shares authorized; 0 and 120,000 issued and outstanding as of September 30, 2021 and December 31, 2020, respectively 0 12,798
Stockholders' Equity (Deficit):    
Series B Preferred Stock, $1,000 par value; 10,000,000 shares authorized, 0 issued and outstanding and 3,973 issued and outstanding as of September 30, 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 September 30, 2021 and 29,252,253 issued and 29,249,925 outstanding at December 31, 2020 132 29
Additional paid-in capital 339,223 240,821
Accumulated deficit (266,021) (248,094)
Total Synthetic Biologics, Inc. and Subsidiaries Equity (Deficit) 73,334 (4,767)
Non-controlling interest (2,774) (2,773)
Total Stockholders' Equity (Deficit) 70,560 (7,540)
Total Liabilities and Stockholders' Equity (Deficit) $ 75,121 $ 8,410

Source

v3.21.2
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Operating Costs and Expenses:        
General and administrative $ 1,303,000 $ 1,197,000 $ 3,988,000 $ 3,876,000
Research and development 1,972,000 914,000 5,021,000 4,152,000
Total Operating Costs and Expenses 3,275,000 2,111,000 9,009,000 8,028,000
Loss from Operations (3,275,000) (2,111,000) (9,009,000) (8,028,000)
Other Income :        
Interest income 2,000 0 4,000 44,000
Total Other Income 2,000 0 4,000 44,000
Net Loss (3,273,000) (2,111,000) (9,005,000) (7,984,000)
Net Loss Attributable to Non-controlling Interest 0 (8,000) (1,000) (50,000)
Net Loss Attributable to Synthetic Biologics, Inc. and Subsidiaries (3,273,000) (2,103,000) (9,004,000) (7,934,000)
Effect of Series A Preferred Stock Price adjustment     (7,402,000) 0
Net Loss Attributable to Common Stockholders $ (3,273,000) $ (2,686,000) $ (17,926,000) $ (9,438,000)
Net Loss Per Share - Basic $ (0.02) $ (0.14) $ (0.15) $ (0.52)
Net Loss Per Share - Dilutive $ (0.02) $ (0.14) $ (0.15) $ (0.52)
Weighted average number of shares outstanding during the period - Basic 132,042,538 19,398,339 118,448,633 18,302,585
Weighted average number of shares outstanding during the period - Dilutive 132,042,538 19,398,339 118,448,633 18,302,585
Series A Preferred Stock [Member]        
Other Income :        
Preferred Stock Dividends, Income Statement Impact $ 0 $ (64,000) $ (24,000) $ (189,000)
Effect of Series A Preferred Stock Price adjustment 0 0 (7,402,000) 0
Series B Preferred Stock [Member]        
Other Income :        
Net Loss Attributable to Non-controlling Interest   100,000 100,000 100,000
Preferred Stock Dividends, Income Statement Impact 0 (519,000) $ (1,496,000) $ (1,315,000)
Preferred Stock [Member] | Series B Preferred Stock [Member]        
Other Income :        
Net Loss Attributable to Non-controlling Interest   0    
Net Loss Attributable to Synthetic Biologics, Inc. and Subsidiaries $ 0 $ 0    

Source

v3.21.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash Flows from Operating Activities:    
Net loss $ (9,005) $ (7,984)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation 305 251
Subsidiary stock issued to vendor 0 178
Depreciation 74 169
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 285 724
Right of use asset 123 103
Accounts payable 368 (1,324)
Accrued expenses 85 (788)
Accrued employee benefits (147) (182)
Operating lease liability (168) (183)
Net Cash Used in Operating Activities (8,080) (9,036)
Cash Flows from Investing Activities    
Purchases of property and equipment (14) (4)
Net Cash Used in Investing Activities (14) (4)
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 65,908 (9,040)
Cash and cash equivalents at the beginning of the period 6,227 15,045
Cash and cash equivalents at the end of the period 72,135 6,005
Noncash Financing Activities:    
Effect of Series A Preferred Stock price adjustment 7,402 0
Right of use asset from operating lease 1,270 0
Conversion of Series B Preferred Stock 2,477 2,177
Deemed dividends for accretion of Series B Preferred Stock discount 1,496 1,315
In-kind dividends paid in preferred stock $ 24 $ 189

Source