Aldeyra Therapeutics(ALDX)2024-08-01 20:03Financial Performance - The net loss for the three months ended June 30, 2024, was 8.99 million for the same period in 2023, indicating an increase in losses of approximately 87%[9] - The net loss for the six months ended June 30, 2024, was 24,602,677 for the same period in 2023, indicating a slight increase in losses[20] - The company reported a net loss per share of 0.15 per share for the same period in 2023[9] Assets and Liabilities - Total current assets decreased from 125.65 million on June 30, 2024, representing a decline of approximately 15%[8] - Cash and cash equivalents decreased significantly from 31.03 million on June 30, 2024, a reduction of about 78%[8] - Total liabilities decreased slightly from 27.73 million on June 30, 2024, a decrease of approximately 3%[8] - Total stockholders' equity decreased from 98.31 million on June 30, 2024, a decline of approximately 18%[8] - The accumulated deficit increased from 419.19 million on June 30, 2024, an increase of approximately 6%[8] Research and Development - Research and development expenses for the three months ended June 30, 2024, were 6.96 million for the same period in 2023, reflecting a year-over-year increase of approximately 115%[9] - Research and development expenses for the six months ended June 30, 2024, were 3,053,738 for the same period in 2023[65] Cash Flow and Investments - The company used 22,801,654 in the same period of 2023[20] - The company reported a net cash used in investing activities of 30,000,000 in the same period of 2023[20] - The company recorded a net cash decrease of 7,256,197 in the same period of 2023[20] Stock and Equity - The company had 59,414,489 shares outstanding as of June 30, 2024, an increase from 59,195,951 shares as of December 31, 2023[8] - The company reported a total of 8,765,797 common stock equivalents as of June 30, 2024, compared to 7,775,253 as of June 30, 2023, indicating an increase of approximately 12.7%[34] - The Company has 3,542,805 shares of common stock available for grant under the 2023 Equity Plan as of June 30, 2024[60] Debt and Financing - The effective interest rate on the Company's debt was 12.6% as of June 30, 2024[50] - The company has a credit facility with Hercules Capital, Inc., providing for a term loan of up to 15,292,500 for the year ending December 31, 2024[52] Legal and Regulatory Matters - The Company is currently involved in a securities class action lawsuit alleging violations of the Securities Exchange Act, with no reasonable prediction of the outcome at this time[84] - The Company has not experienced any losses related to indemnification obligations for its officers and directors, concluding that the fair value of these obligations is negligible[79] Other Financial Metrics - Interest income for the three months ended June 30, 2024, was 1.88 million for the same period in 2023, a decrease of about 13%[9] - The company reported a decrease in cash paid for interest during the period, totaling 823,521 in the prior year[20] - The total grant date fair value of RSUs vested was $1.1 million for the six months ended June 30, 2024[72]