A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. As such, the Zacks rating upgrade for Vincerx Pharma is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price. The change in a company's future earnings potential, as reflected in earnings estimate revisions ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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 March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39244 Vincerx Pharma, Inc. (Exact name of Registrant as Specified in Its Charter) Delaware 83-3197402 (State o ...

Exhibit 99.1 Vincerx Pharma Reports First Quarter 2024 Financial Results and Provides Corporate Update Vincerx continued to progress Phase 1 dose-escalation studies for VIP943, a potentially best-in-class anti- CD123 antibody-drug conjugate (ADC), and VIP236, a first-in-class small molecule-drug conjugate (SMDC) The National Institutes of Health (NIH) and Vincerx announced positive results from enitociclib Phase 1 combination study, reporting a fourth partial response (PR) in a patient with peripheral T-cel ...

Exhibit 99.1 VersAptx™ Platform Vincerx Pharma Reports Fourth Quarter and Full Year 2023 Financial Results and Corporate Update VIP236, first-in-class small molecule-drug conjugate (SMDC), preliminary Phase 1 data and update on pipeline progress will be presented by management at a virtual investor event on April 8 at 2:00 PM PT Phase 1 trial ongoing for VIP943, a best-in-class anti-CD123 antibody-drug conjugate (ADC); preliminary data anticipated on or around the 2024 European Hematology Association (EHA) ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39244 Vincerx Pharma, Inc. (Exact name of Registrant as Specified in Its Charter) Delaware 83-3197402 (State or Oth ...

Part I - Financial Information [Financial Statements](index=7&type=section&id=ITEM%201.%20Financial%20Statements) The company reported significant net losses and a substantial decrease in total assets, raising substantial doubt about its ability to continue as a going concern [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets significantly decreased to **$26.3 million** from **$59.3 million**, primarily due to reduced cash and marketable securities, leading to a sharp decline in stockholders' equity Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | Sep 30, 2023 (Unaudited) | Dec 31, 2022 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $15,078 | $11,663 | | Short-term marketable securities | $5,724 | $40,796 | | Total current assets | $22,818 | $55,964 | | **Total assets** | **$26,276** | **$59,286** | | **Liabilities & Equity** | | | | Total current liabilities | $8,846 | $9,156 | | **Total liabilities** | **$10,535** | **$11,618** | | **Total stockholders' equity** | **$15,741** | **$47,668** | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The company reported a **net loss of $9.7 million** for Q3 2023 and **$35.2 million** for the nine months, primarily driven by reduced operating expenses Statement of Operations Highlights (in thousands, except per share amounts) | Metric | Q3 2023 | Q3 2022 | YTD 2023 | YTD 2022 | | :--- | :--- | :--- | :--- | :--- | | Research and development | $6,800 | $11,066 | $25,260 | $40,779 | | General and administrative | $3,517 | $4,525 | $11,816 | $14,903 | | Total operating expenses | $10,317 | $16,901 | $37,076 | $58,151 | | **Net loss** | **($9,715)** | **($16,879)** | **($35,207)** | **($51,724)** | | Net loss per share | ($0.46) | ($0.80) | ($1.66) | ($2.46) | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities decreased to **$32.4 million**, while investing activities provided **$35.8 million**, resulting in a **$3.4 million** increase in cash and equivalents Cash Flow Summary (in thousands) | Activity | Nine Months Ended Sep 30, 2023 | Nine Months Ended Sep 30, 2022 | | :--- | :--- | :--- | | Net cash used in operating activities | $(32,434) | $(45,787) | | Net cash provided by (used in) investing activities | $35,750 | $(20,195) | | Net cash provided by financing activities | $96 | $242 | | **Net increase (decrease) in cash** | **$3,415** | **$(65,696)** | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes highlight the company's dependence on Bayer-licensed cancer therapies, significant accounting policies, and substantial doubt about its ability to continue as a going concern due to future capital needs and potential **$1.0 billion** milestone payments - The company concluded there is **substantial doubt** about its ability to continue as a going concern for one year, requiring additional capital before the financial statement issuance anniversary[40](index=40&type=chunk) - Under the Bayer License Agreement, the company may incur aggregate milestone payments exceeding **$1.0 billion** upon successful commercialization of at least five licensed products, in addition to royalties[54](index=54&type=chunk) - As of September 30, 2023, the company held approximately **$20.8 million** in cash, cash equivalents, and marketable securities, projected to fund operations into late 2024[38](index=38&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=20&type=section&id=ITEM%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's Bayer-licensed pipeline, highlighting decreased operating expenses, sufficient cash to fund operations into late 2024, and substantial doubt about its going concern ability without additional capital [Results of Operations](index=22&type=section&id=Results%20of%20Operations) Operating expenses significantly decreased for both the three and nine months ended September 30, 2023, primarily due to reductions in research and development and general and administrative costs Change in Operating Expenses (in thousands) | Expense Category | YTD 2023 | YTD 2022 | Change | | :--- | :--- | :--- | :--- | | Research and development | $25,260 | $40,779 | $(15,519) | | General and administrative | $11,816 | $14,903 | $(3,087) | | **Total operating expenses** | **$37,076** | **$58,151** | **$(21,075)** | - The **$15.5 million** decrease in R&D expenses for the nine months ended September 30, 2023, was primarily driven by reduced manufacturing services, stock-based compensation, clinical services, and payroll costs[95](index=95&type=chunk) [Liquidity and Capital Resources](index=23&type=section&id=Liquidity%20and%20Capital%20Resources) The company's **$20.8 million** in cash is expected to fund operations into late 2024, but recurring losses and future capital needs create substantial doubt about its ability to continue as a going concern - The company's existing cash of approximately **$20.8 million** is expected to fund operations and capital requirements into late 2024[104](index=104&type=chunk) - Management concluded there is **substantial doubt** about the company's ability to continue as a going concern for one year from the financial statement issuance due to the need for additional capital[109](index=109&type=chunk) - Future obligations include significant milestone payments to Bayer, potentially exceeding **$1.0 billion** in aggregate if at least five licensed products are successfully commercialized[103](index=103&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=26&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from interest rate and foreign currency fluctuations, but due to short-term investments and USD-denominated operations, a 10% change would not materially impact financial statements - The company does not anticipate material risks from interest rate changes due to the short-term nature of its investments[121](index=121&type=chunk) - Future operating results are not expected to be significantly affected by foreign currency transaction risk as operations are principally denominated in U.S. dollars[122](index=122&type=chunk) [Controls and Procedures](index=26&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2023, with no material changes to internal control over financial reporting during the third quarter - The CEO and CFO concluded that as of September 30, 2023, the company's disclosure controls and procedures were **effective** at the reasonable assurance level[125](index=125&type=chunk) - There were no material changes in internal control over financial reporting during the three months ended September 30, 2023[126](index=126&type=chunk) Part II - Other Information [Legal Proceedings](index=28&type=section&id=ITEM%201.%20Legal%20Proceedings) The company is not currently a party to any material legal proceedings and is unaware of any pending or threatened actions that could adversely affect its operations - As of the report date, the company is not involved in any **material legal proceedings**[128](index=128&type=chunk) [Risk Factors](index=28&type=section&id=ITEM%201A.%20Risk%20Factors) The company faces extensive risks, including substantial dependence on the Bayer License Agreement, recurring net losses, significant capital needs, going concern doubts, early-stage product development, regulatory hurdles, competition, intellectual property issues, and potential Nasdaq delisting - The company's entire product pipeline is licensed from Bayer, creating high dependence on the Bayer License Agreement, with potential termination if obligations are not met[129](index=129&type=chunk)[130](index=130&type=chunk) - The company has incurred **net losses** since inception and faces **substantial doubt** about its ability to continue as a going concern without raising additional capital[176](index=176&type=chunk)[182](index=182&type=chunk) - On September 14, 2023, the company received a Nasdaq notice for failing to meet the **$1.00 minimum bid price** requirement, potentially leading to delisting[285](index=285&type=chunk) [Exhibits](index=58&type=section&id=ITEM%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate governance documents and certifications from the CEO and CFO as required by the Sarbanes-Oxley Act - Exhibits filed include corporate governance documents and certifications by the Principal Executive Officer and Principal Financial Officer pursuant to the Sarbanes-Oxley Act of 2002[304](index=304&type=chunk)

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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 June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39244 Vincerx Pharma, Inc. (Exact name of Registrant as Specified in Its Charter) Delaware 83-3197402 (State or ...

Part I - Financial Information [Financial Statements](index=8&type=page&id=ITEM%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for the three months ended March 31, 2023, including the balance sheet showing total assets of $47.4 million, the statement of operations reporting a net loss of $14.3 million, and cash, cash equivalents, and marketable securities totaling $39.8 million [Note 1: Nature of Business](index=12&type=section&id=NOTE%201.%20NATURE%20OF%20BUSINESS) Vincerx Pharma is a clinical-stage biopharmaceutical company focused on developing new cancer therapies, with its pipeline exclusively licensed from Bayer - The company is a clinical-stage biopharmaceutical firm focused on cancer treatments[39](index=39&type=chunk) - The entire current product pipeline is licensed exclusively from Bayer, including a clinical-stage small molecule program and a preclinical bioconjugation platform (ADCs and SMDCs)[39](index=39&type=chunk) [Note 3: Bayer License](index=14&type=section&id=NOTE%203.%20BAYER%20LICENSE) The company entered an exclusive, worldwide license agreement with Bayer, involving an upfront fee, a milestone payment for VIP236, and potential future milestone payments exceeding $1.0 billion plus royalties - The company paid a $5.0 million upfront license fee to Bayer in January 2021[56](index=56&type=chunk) - A $1.0 million development milestone payable to Bayer was recorded in connection with the IND filing for VIP236[56](index=56&type=chunk) - Future milestone payments could range from $110.0 million to $318.0 million per product and could exceed $1.0 billion in aggregate for five licensed products, plus ongoing royalties[57](index=57&type=chunk) [Note 6: Commitments and Contingencies](index=16&type=section&id=NOTE%206.%20COMMITMENTS%20AND%20CONTINGENCIES) As of March 31, 2023, the company had operating lease liabilities of approximately $3.3 million and right-of-use assets of $2.9 million, with a portion of its headquarters subleased - As of March 31, 2023, the company had operating lease liabilities of $3.3 million and right-of-use assets of $2.9 million[67](index=67&type=chunk) - The company subleased unused office space, receiving $150,000 in payments during the three months ended March 31, 2023, which offset rent expense[68](index=68&type=chunk) Condensed Consolidated Balance Sheet (Unaudited) | | March 31, 2023 (in thousands) | December 31, 2022 (in thousands) | | :--- | :--- | :--- | | **Current Assets** | | | | Cash and cash equivalents | $4,489 | $11,663 | | Short-term marketable securities | $35,279 | $40,796 | | Total current assets | $44,007 | $55,964 | | **Total Assets** | **$47,448** | **$59,286** | | **Current Liabilities** | | | | Accounts payable | $6,173 | $4,065 | | Total current liabilities | $10,712 | $9,156 | | **Total Liabilities** | **$12,982** | **$11,618** | | **Total Stockholders' Equity** | **$34,466** | **$47,668** | Condensed Consolidated Statement of Operations (Unaudited) | | Three Months Ended March 31, 2023 (in thousands) | Three Months Ended March 31, 2022 (in thousands) | | :--- | :--- | :--- | | General and administrative | $4,512 | $5,656 | | Research and development | $10,587 | $15,971 | | **Total operating expenses** | **$15,099** | **$21,627** | | Loss from operations | ($15,099) | ($21,627) | | **Net loss** | **($14,341)** | **($16,424)** | | Net loss per common share, basic and diluted | ($0.68) | ($0.79) | Condensed Consolidated Statement of Cash Flows (Unaudited) | | Three Months Ended March 31, 2023 (in thousands) | Three Months Ended March 31, 2022 (in thousands) | | :--- | :--- | :--- | | Net cash used in operating activities | ($13,092) | ($15,028) | | Net cash provided by investing activities | $5,885 | $0 | | Net cash provided by financing activities | $3 | $0 | | **Net decrease in cash, cash equivalents, and restricted cash** | **($7,174)** | **($15,011)** | | Cash, cash equivalents, and restricted cash at end of period | $4,559 | $96,553 | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=page&id=ITEM%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's Q1 2023 financial performance, noting decreased operating expenses and a net loss of $14.3 million, with $39.8 million in cash expected to fund operations into late 2024, though substantial additional funding is anticipated [Results of Operations](index=23&type=section&id=Results%20of%20Operations) For the three months ended March 31, 2023, total operating expenses decreased to $15.1 million from $21.6 million, narrowing the net loss to $14.3 million, driven by reductions in R&D and G&A costs Comparison of Operating Results (in thousands) | | Three Months Ended March 31, 2023 | Three Months Ended March 31, 2022 | Change | | :--- | :--- | :--- | :--- | | General and administrative | $4,512 | $5,656 | ($1,144) | | Research and development | $10,587 | $15,971 | ($5,384) | | **Total operating expenses** | **$15,099** | **$21,627** | **($6,528)** | | **Net loss** | **($14,341)** | **($16,424)** | **$2,083** | - R&D expenses decreased by **$5.4 million**, primarily due to a **$3.1 million** decline in stock-based compensation and a **$1.4 million** drop in payroll costs from a June 2022 headcount reduction[101](index=101&type=chunk) - General and administrative expenses decreased by **$1.1 million**, mainly due to a **$1.1 million** decline in stock-based compensation expense[102](index=102&type=chunk) [Liquidity and Capital Resources](index=23&type=section&id=Liquidity%20and%20Capital%20Resources) The company, having generated no revenue, expects increased expenses from R&D and clinical trials, with $39.8 million in cash projected to fund operations into late 2024, but substantial additional funding will be required - As of March 31, 2023, the company had approximately **$39.8 million** in cash, cash equivalents, and marketable securities[109](index=109&type=chunk) - Existing cash is expected to fund operating expenses and capital requirements into late 2024, based on current plans and a **33%** workforce reduction implemented in June 2022[109](index=109&type=chunk) - The company anticipates needing substantial additional funding to continue operations, given the costs of clinical trials and significant future milestone payments to Bayer, which could exceed **$1.0 billion**[108](index=108&type=chunk)[109](index=109&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=26&type=page&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to market risks from interest rate changes and foreign currency fluctuations, but management does not anticipate these risks to be material due to short-term investments and U.S. dollar-denominated operations - The company does not anticipate being exposed to material risks from changes in interest rates due to the short-term nature of its investments[123](index=123&type=chunk) - Foreign currency risk is not expected to be significant as operations are principally denominated in U.S. dollars[124](index=124&type=chunk) [Controls and Procedures](index=26&type=page&id=ITEM%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, concluded that the company's disclosure controls and procedures were effective as of March 31, 2023, with no material changes to internal control over financial reporting during the quarter - The Chief Executive Officer and Chief Financial Officer concluded that as of March 31, 2023, the company's disclosure controls and procedures were effective at the reasonable assurance level[127](index=127&type=chunk) - There were no changes in internal control over financial reporting during the three months ended March 31, 2023, that materially affected, or are reasonably likely to materially affect, internal controls[128](index=128&type=chunk) Part II - Other Information [Legal Proceedings](index=28&type=page&id=ITEM%201.%20Legal%20Proceedings) The company reports that it is not currently a party to any material legal proceedings and is unaware of any pending or threatened legal actions that would materially adversely affect its business - Vincerx is not currently a party to any material legal proceedings[131](index=131&type=chunk) [Risk Factors](index=28&type=page&id=ITEM%201A.%20Risk%20Factors) This section details significant risks that could adversely affect the company's business, including substantial dependence on the Bayer License Agreement, reliance on lead product candidates, the need for additional capital, and uncertainties of clinical development and regulatory approval [Risks Related to Discovery, Development, and Commercialization](index=28&type=section&id=Risks%20Related%20to%20the%20Discovery%2C%20Development%20and%20Commercialization%20of%20Our%20Product%20Candidates) The company's success is highly dependent on its early-stage lead product candidates (VIP236, VIP943, and enitociclib), facing risks of clinical trial failure, manufacturing challenges, and intense competition - The company is substantially dependent on the success of its lead product candidates: VIP236, VIP943, and enitociclib[140](index=140&type=chunk) - The company is at an early stage of development, and its product candidates may not be successfully developed, manufactured, or commercialized[143](index=143&type=chunk) - The company faces significant competition from other pharmaceutical and biotechnology companies with greater financial and technical resources[156](index=156&type=chunk) [Risks Related to Financial Position and Capital Needs](index=36&type=section&id=Risks%20Related%20to%20Our%20Financial%20Position%20and%20Need%20for%20Additional%20Capital) Vincerx has a limited operating history, has incurred net losses since inception, and expects to continue incurring significant losses, requiring substantial additional capital to finance operations and meet milestone payments to Bayer - The company has incurred net losses since inception and expects to continue incurring significant losses for the foreseeable future[178](index=178&type=chunk) - Substantial additional capital is required to finance operations; failure to raise capital could force delays, reductions, or elimination of research and development programs[180](index=180&type=chunk) - The Bayer License Agreement obligates the company to make significant milestone and royalty payments, some of which are due before any potential commercialization[184](index=184&type=chunk) [Risks Related to Regulatory Approval and Legal Compliance](index=38&type=section&id=Risks%20Related%20to%20Regulatory%20Approval%20and%20Other%20Legal%20Compliance%20Matters) The company's product candidates are subject to extensive and lengthy government regulation and may never obtain necessary U.S. or foreign regulatory approvals, facing risks of adverse side effects, failure to obtain accelerated approval, and post-marketing requirements - The company may be unable to obtain U.S. or foreign regulatory approvals, which is a costly, time-consuming, and uncertain process[188](index=188&type=chunk) - Product candidates may cause adverse events or undesirable side effects that could inhibit regulatory approval or prevent market acceptance[193](index=193&type=chunk) - Even if approved, products will be subject to significant post-marketing regulatory requirements, oversight, and potential sanctions for non-compliance[198](index=198&type=chunk) [Risks Related to Dependence on Third Parties](index=43&type=section&id=Risks%20Related%20to%20Our%20Dependence%20on%20Third%20Parties) Vincerx relies heavily on third-party manufacturers for all clinical and potential commercial supply and on contract research organizations (CROs) to conduct clinical trials, introducing significant risks to its development programs - The company has no manufacturing capabilities and relies on third-party manufacturers for the development, clinical trials, and commercialization of its product candidates[216](index=216&type=chunk) - The company relies on contract research organizations (CROs) and other third parties to conduct clinical trials, and is therefore unable to directly control the timing and conduct of these trials[224](index=224&type=chunk) [Risks Related to Intellectual Property](index=45&type=section&id=Risks%20Related%20to%20Our%20Intellectual%20Property) The company's success depends on obtaining and maintaining patent and trade secret protection for its licensed product candidates, facing risks of patent challenges, invalidation, and expensive lawsuits to protect or defend against infringement claims - Failure to comply with obligations under the Bayer License Agreement could result in the loss of essential intellectual property rights for all current product candidates[225](index=225&type=chunk) - The company's ability to protect its product candidates is uncertain, as patent applications may not be issued, and issued patents may be found invalid or unenforceable[229](index=229&type=chunk)[230](index=230&type=chunk) - The company may be involved in lawsuits to protect its patents or defend against claims of infringement, which are expensive, time-consuming, and have uncertain outcomes[239](index=239&type=chunk) [General Risk Factors](index=53&type=section&id=General%20Risk%20Factors) This section outlines general business and investment risks, including volatile stock price, concentrated ownership among executive officers and directors, and increased burdens as an emerging growth public company with limited management experience - The company's stock price has been volatile and thinly traded, which can lead to wide price fluctuations[275](index=275&type=chunk) - Ownership is concentrated among executive officers and directors, allowing them to exercise significant influence on matters requiring stockholder approval[291](index=291&type=chunk) - The company is an "emerging growth company" and faces increased expenses and administrative burdens as a public company, with management having limited experience in this area[286](index=286&type=chunk)[294](index=294&type=chunk) [Exhibits](index=58&type=page&id=ITEM%206.%20Exhibits) This section lists the exhibits filed as part of the quarterly report, including corporate governance documents and certifications pursuant to the Sarbanes-Oxley Act List of Exhibits | Exhibit No. | Description | | :--- | :--- | | 3.1 | Second Amended and Restated Certificate of Incorporation | | 3.2 | Amended and Restated Bylaws | | 31.1 | Principal Executive Officer's Certification (SOX 302) | | 31.2 | Principal Financial Officer's Certification (SOX 302) | | 32.1, 32.2 | Certifications Pursuant to 18 U.S.C. § 1350 (SOX 906) | | 101 Series | Inline XBRL Documents |

Revenue Generation - The company has not recognized any revenue to date and does not expect to generate revenue in the foreseeable future[428]. Expenses - Research and development expenses increased by $12.1 million in 2022, primarily due to manufacturing services ($9.1 million) and third-party research ($7.0 million)[437]. - General and administrative expenses decreased by approximately $3.6 million in 2022, mainly due to a decline in stock-based compensation[439]. - The total operating expenses for 2022 were $73.6 million, an increase of $10.9 million compared to 2021[436]. - The company anticipates significant increases in expenses related to ongoing preclinical and clinical development activities[447]. - The company incurred a net loss of approximately $65.4 million for the year ended December 31, 2022, which included approximately $12.4 million related to stock-based compensation[461]. - Net cash used in operating activities was approximately $59.6 million for the year ended December 31, 2022, compared to $33.4 million for the year ended December 31, 2021, indicating a significant increase in operational expenses[461]. - Cash used in investing activities was approximately $40.6 million for the year ended December 31, 2022, primarily due to purchases of marketable securities totaling $43.0 million[462]. - Net cash provided by financing activities was $0.3 million for the year ended December 31, 2022, a substantial decrease from $88.5 million in the previous year[463]. Net Loss - The net loss for the year ended December 31, 2022, was $65.4 million, compared to a net loss of $39.3 million in 2021, reflecting an increase of $26.1 million[436]. Cash Position - As of December 31, 2022, the company had approximately $52.5 million in cash, cash equivalents, and marketable securities[449]. - The company expects cash used in operating activities to increase as it continues and expands clinical trials and seeks marketing approval for its product candidates[460]. - The company has cash equivalents and short-term marketable securities as of December 31, 2022, which are not significantly impacted by interest rate changes[484]. Strategic Decisions - A strategic plan was approved in June 2022, resulting in a 33% workforce reduction to streamline resources and extend cash runway[440]. - The company has consolidated its leased office space and subleased unused space for a term of 18 months at a base rent of $50,000 per month[458]. Obligations and Future Funding - The company paid Bayer a $5.0 million upfront license fee and will be responsible for future milestone payments ranging from $110.0 million to $318.0 million per licensed product, potentially exceeding $1.0 billion in total[448]. - The company is obligated to pay a $1.0 million development milestone to Bayer under the Bayer License Agreement following the successful filing of its IND for VIP236 in December 2022[470]. - The company’s future funding requirements will depend on various factors, including the development and commercialization of product candidates and technologies[451]. Valuation and Tax Assets - The company has recorded a full valuation allowance to reduce its net deferred income tax assets to zero, indicating uncertainty regarding the realization of these assets[472]. Impact of External Factors - The company’s business operations have been adversely affected by health pandemics and economic events, which may continue to impact its financial position and results of operations[455]. Financial Reporting - The company is classified as an "emerging growth company" and plans to utilize the extended transition period for new financial accounting standards until the end of the 2025 fiscal year[481]. Interest Rate and Currency Risk - A hypothetical 10% change in interest rates would not have a material impact on the company's consolidated financial statements[485]. - The company's operations are primarily denominated in U.S. dollars, minimizing exposure to foreign currency transaction risk[486]. - A hypothetical 10% change in foreign exchange rates would not have a material impact on the company's consolidated financial statements[486]. Warrant Liabilities - The change in fair value of warrant liabilities decreased from $23.4 million in 2021 to $6.3 million in 2022, primarily due to a drop in the stock price from $10.19 to $1.02[442].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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 June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-39244 Vincerx Pharma, Inc. (Exact name of Registrant as Specified in Its Charter) Delaware 83-3197402 (State or ...