Financial Performance - The net loss for the year ended March 31, 2022, was $9,819, a decrease of $9,859 from the net loss of $19,678 for the year ended March 31, 2021, resulting in a loss per share of $0.27 compared to $1.33 [273]. - The company did not generate any revenue for the year ended March 31, 2022, compared to $196 for the year ended March 31, 2021 [272]. - Operating activities used cash of $17,234 for the year ended March 31, 2022, compared to $14,319 for the year ended March 31, 2021 [290]. - The company did not engage in any financing activities during the year ended March 31, 2022, compared to cash generated of $59,490 from share sales in the previous year [292]. Assets and Equity - Total assets increased to $128,620 as of March 31, 2022, from $62,458 as of March 31, 2021, reflecting an increase of $66,162 [270]. - Total shareholders' equity increased to $108,270 as of March 31, 2022, from $55,660 as of March 31, 2021, an increase of $52,610 [270]. - Cash and cash equivalents and short-term investments totaled $43.7 million as of March 31, 2022 [269]. - Working capital decreased to $42,271 as of March 31, 2022, from $60,793 as of March 31, 2021, a decrease of $18,522 [270]. Expenses - Research and development expenses for the year ended March 31, 2022, totaled $5,559, an increase of $1,386 from $4,173 for the year ended March 31, 2021 [277]. - General and administrative expenses totaled $9,263 for the year ended March 31, 2022, an increase of $3,742 from $5,521 for the year ended March 31, 2021 [282]. - Total third-party research and development expenses before salaries and benefits for the year ended March 31, 2022, amounted to $3,095, compared to $1,445 for the year ended March 31, 2021, resulting in an increase of $1,650 [278]. - Sales and marketing expenses decreased to $518 for the year ended March 31, 2022, from $1,142 for the year ended March 31, 2021, reflecting a decrease of $624 [285]. - Acquisition-related expenses totaled $3.2 million for the year ended March 31, 2022, included in general and administrative expenses [307]. Cash Flow and Liquidity - Cash and cash equivalents totaled $30,339 as of March 31, 2022, a net decrease of $20,603 from $50,942 at March 31, 2021 [289]. - The company manages liquidity risk by monitoring actual and projected cash flows and through the management of its capital structure and financial leverage [338]. - The company continuously monitors its operating budgets and reviews material transactions outside the normal course of business to manage liquidity risk [338]. Acquisitions and Goodwill - The acquisition of Grace Therapeutics was completed on August 27, 2021, resulting in the issuance of 18,241,233 common shares valued at $60,824 [300][301]. - Intangible assets related to the acquisition of Grace amounted to $69,810, primarily for in-process research and development [303]. - Goodwill of $12,964 was recognized as the excess of the consideration transferred over the net assets acquired [304]. Derivative Liabilities and Commitments - The fair value of derivative warrant liabilities for the remaining 824,218 warrants was $10 as of March 31, 2022, down from an initial value of $3,323 at inception [315]. - As of March 31, 2022, total contractual liabilities amounted to $3,461, with $3,260 due within one year [317]. - The company has a remaining commitment of $2.8 million under the RKO supply agreement for raw krill oil, with no planned use for the product [321]. Currency and Interest Rate Risks - A 5% strengthening of the U.S. dollar would result in an increase in net loss by CAD$3,129, compared to CAD$4,048 for March 31, 2021 [337]. - Interest rate risk exposure as of March 31, 2022, includes cash and cash equivalents and short-term fixed interest rate investments [337]. - The company’s capacity to reinvest short-term amounts will be impacted by variations in short-term fixed interest rates available on the market [337]. Other Financial Information - The company has assessed recent accounting pronouncements and concluded that they are not expected to have a material effect on consolidated financial statements [338]. - There were no off-balance sheet arrangements that could materially affect the company's financial condition as of the report date [322]. - The average CAD$ per US$ was 1.2536 for March 2022 reporting, compared to 1.3212 for March 2021 [336]. - The average CAD$ per Euro was 1.4569 for March 2022 reporting, compared to 1.5409 for March 2021 [336].

Acasti Pharma Inc. (NASDAQ:ACST) Q3 2021 Earnings Conference Call February 14, 2022 1:00 PM ET Company Participants David Waldman - Investor Relations Jan D’Alvise - President and Chief Executive Officer Brian Ford - Chief Financial Officer George Kottayil - Chief Operating Officer US Conference Call Participants Sahil Kazmi - B. Riley Securities Alexandra Heller - Oppenheimer Operator Good day, ladies and gentlemen, and welcome to the Acasti Pharma Third Quarter Fiscal 2022, Business Update Conference Cal ...

Financial Performance - The net loss for the three months ended December 31, 2020, was $3,220, or $0.03 per share, a decrease from a net loss of $12,123, or $0.14 per share, for the same period in 2019[112]. - For the nine months ended December 31, 2020, the net loss was $14,032, or $0.15 per share, down from $42,128, or $0.51 per share, for the same period in 2019[113]. - The company reported a net financial income of $87 for the nine months ended December 31, 2020, compared to net financial expenses of $21,721 for the same period in 2019[114]. - The total shareholders' equity increased to $25.7 million as of December 31, 2020, compared to a deficit of $4.29 million in the same period of 2019[110]. Assets and Liabilities - Total assets as of December 31, 2020, were $30.3 million, with cash and cash equivalents totaling $27.9 million[109]. - As of December 31, 2020, total liabilities amounted to $4,588, with $2,248 due within one year[151]. - The derivative warrant liability for the remaining 6,593,750 warrants totaled $1,228, reflecting a fair value decrease from $3,323 at inception[147]. - Other assets held for sale, including krill oil, are valued at $712, with equipment valued at $376, totaling $1,088[144]. Cash Flow and Financing - The company raised net proceeds of $24.8 million under the ATM program during the nine months ended December 31, 2020[109]. - Total cash and cash equivalents as of December 31, 2020, amounted to $26,546, reflecting a net increase of 34.3% compared to $19,767 at December 31, 2019[130]. - Financing activities provided cash totaling $19,745 during the three months ended December 31, 2020, compared to $7,117 in the same period of 2019, representing an increase of 177.5%[133]. Expenses - Research and development expenses decreased by $3,720 for the nine months ended December 31, 2020, compared to $14,056 for the same period in 2019[111]. - Research and development expenses for the three months ended December 31, 2020, totaled $620, a significant decrease of 80.5% from $3,186 for the same period in 2019[120]. - General and administrative expenses decreased to $931 for the three months ended December 31, 2020, down 22% from $1,193 in the same period of 2019[121]. - Sales and marketing expenses were $488 for the three months ended December 31, 2020, a decrease of 13% from $561 for the same period in 2019[121]. Strategic Decisions - The company engaged Oppenheimer & Co. Inc. to assist in exploring strategic alternatives to enhance shareholder value[102]. - The company initiated a plan to reduce personnel and expenses in September 2020, discontinuing substantially all commercialization and R&D activities[103]. - The company will not file a New Drug Application (NDA) for its lead product candidate, CaPre, due to disappointing results from the TRILOGY Phase 3 trials[102]. Impairments and Risks - An impairment loss of $3,706 was recognized for intangible assets, representing the totality of the intangible assets' net book value prior to the impairment trigger[142]. - Equipment impairment losses totaled $1,584, primarily due to the failed Phase 3 clinical trials[146]. - The company recognized a risk of loss on the krill oil product due to uncertainty regarding recoverability[145]. Currency and Interest Rate Risks - The company has exposure to interest rate risk, with short-term fixed interest rate investments that may be affected by market rate fluctuations[171]. - Liquidity risk is managed through continuous monitoring of actual and projected cash flows, with the Board of Directors reviewing operating budgets[175]. - The company incurred expenses in U.S. dollars and Euros, with no financial hedging required, exposing it to foreign currency risk[166]. - The average exchange rate for CAD per Euro was 1.5459 for 2020, compared to 1.5013 for 2019, reflecting a depreciation of the Canadian dollar against the Euro[169]. Future Accounting Changes - Future accounting changes include ASU 2016-13, effective after December 15, 2022, which will impact the reporting of credit losses[177]. - Management has adopted ASU 2018-15 regarding internal-use software, but it did not impact reported amounts as of December 31, 2020[178].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Common Shares, no par value per share ACST NASDAQ Stock Market FORM 10-Q ______________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Common Shares, no par value per share ACST NASDAQ Stock Market Non-accelerated filer ☒ Smaller reporting company ☒ Emerging growth company ☐ FORM 10-Q ______________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended ...