Stealth BioTherapeutics (MITO) 6-K Current report (foreign)

Exhibit 99.1

STEALTH BIOTHERAPEUTICS CORP

Condensed Consolidated Statements of Operations

(in thousands, except share and per share data)

(unaudited)

	Three months ending March 31,
	2022			2021
Operating expenses:
Research and development	$	7,776		$	6,099
General and administrative		5,298			4,979
Total operating expenses		13,074			11,078
Loss from operations		(13,074	)		(11,078	)
Other income (expense):
Gain from remeasurement of derivative liability		5,476			3,688
Interest income		3			1
Interest expense and other		(541	)		(300	)
Total other income		4,938			3,389
Net loss attributable to ordinary shareholders	$	(8,136	)	$	(7,689	)
Net loss per share attributable to ordinary shareholders — basic and diluted	$	(0.01	)	$	(0.01	)
Weighted average ordinary shares used in net loss per share attributable to ordinary shareholders — basic and diluted		715,444,473			652,807,323

STEALTH BIOTHERAPEUTICS CORP

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

	March 31,			December 31,
	2022			2021
Assets
Current assets:
Cash and cash equivalents	$	33,834		$	47,135
Prepaid expenses and other current assets		2,566			2,467
Total current assets		36,400			49,602
Property and equipment, net		88			97
Deferred financing costs and other non-current assets		427			527
Total assets	$	36,915		$	50,226
Liabilities and shareholders’ deficit
Current liabilities:
Accounts payable	$	4,122		$	3,467
Accrued expenses and other current liabilities		5,613			7,283
Accrued interest payable		154			78
Total current liabilities		9,889			10,828
Long-term portion of debt		13,782			13,656
Development derivative liability - related party		65,561			71,037
Total liabilities		89,232			95,521
Total shareholders’ deficit		(52,317	)		(45,295	)
Total liabilities and shareholders’ deficit	$	36,915		$	50,226