90 results
10-Q
2024 Q1
CTNM
Contineum Therapeutics Inc. - Ordinary Shares
16 May 24
Quarterly report
5:01pm
(in thousands, except share and par value data)
March 31, 2024 | December 31, 2023 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 16,264 | $ | 15,526 | ||||
Marketable securities | 101,643 | 109,664 | ||||||
Prepaid expenses and other current assets | 1,804 | 2,516 | ||||||
Total current assets | 119,711 | 127,706 | ||||||
Property and equipment, net | 756 | 678 | ||||||
Other long-term assets | 2,623 | 1,283 | ||||||
Operating lease right-of-use assets | 474 | 719 | ||||||
Total assets | $ | 123,564 | $ | 130,386 | ||||
Liabilities, convertible preferred stock and stockholders' deficit | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 570 | $ | 635 | ||||
Accrued expenses | 5,190 | 4,385 | ||||||
Current portion of operating lease liabilities | 474 | 464 | ||||||
Total current liabilities | 6,234 | 5,484 | ||||||
Other long-term liabilities | 228 | 110 | ||||||
Operating lease liabilities, net of current portion | 111 | 108 | ||||||
Total liabilities | 6,573 | 5,702 | ||||||
Convertible preferred stock, $0.001 par value; authorized shares— 16,940,594 at March 31, 2024 and December 31, 2023; issued shares and outstanding shares— 15,906,236 at March 31, 2024 and December 31, 2023; $193,462 aggregate liquidation preference at March 31, 2024 | 192,620 | 192,620 | ||||||
Stockholders' deficit: | ||||||||
Common stock, $0.001 par value; authorized shares—39,630,511 at March 31, 2024 and December 31, 2023, respectively; issued shares—2,384,426 and 2,349,554 at March 31, 2024 and December 31, 2023 respectively; outstanding shares—2,384,426 and 2,349,554 at March 31, 2024 and December 31, 2023 respectively. | 2 | 2 | ||||||
Additional paid-in-capital | 7,988 | 7,098 | ||||||
Accumulated deficit | (83,561) | (75,144) | ||||||
Accumulated other comprehensive income (loss) | (58) | 108 | ||||||
Total stockholders' deficit | (75,629) | (67,936) | ||||||
Total liabilities, convertible preferred stock and stockholders' deficit | $ | 123,564 | $ | 130,386 |
10-Q
2024 Q1
CTNM
Contineum Therapeutics Inc. - Ordinary Shares
16 May 24
Quarterly report
5:01pm
The authorized, issued, and outstanding shares of convertible preferred stock as of March 31, 2024 consist of the following:
Shares Authorized | Shares Issued and Outstanding | Liquidation Preference (in thousands) | ||||||||||
Series A | 1,786,607 | 1,786,604 | $ | 10,000 | ||||||||
Series A-1 | 1,429,286 | 1,423,119 | 11,179 | |||||||||
Series B | 3,362,377 | 3,346,607 | 32,034 | |||||||||
Series C | 10,362,324 | 9,349,906 | 140,249 | |||||||||
16,940,594 | 15,906,236 | $ | 193,462 |
10-Q
2024 Q1
CTNM
Contineum Therapeutics Inc. - Ordinary Shares
16 May 24
Quarterly report
5:01pm
The following table summarizes the amortized cost and fair value of the Company’s marketable securities by major investment category (in thousands).
As of March 31, 2024 | ||||||||||||||||
Unrealized | ||||||||||||||||
Amortized Cost | Gains | Losses | Fair Value | |||||||||||||
US Government agency securities | $ | 14,434 | $ | — | $ | (45) | $ | 14,389 | ||||||||
Certificate of deposit | 9,463 | 6 | (1) | 9,468 | ||||||||||||
Corporate debt securities | 49,544 | 17 | (25) | 49,536 | ||||||||||||
Commercial paper | 20,751 | 4 | (11) | 20,744 | ||||||||||||
Yankee debt | 3,882 | 1 | (4) | 3,879 | ||||||||||||
Asset-backed securities | 3,627 | 3 | (3) | 3,627 | ||||||||||||
$ | 101,701 | $ | 31 | $ | (89) | $ | 101,643 |
10-Q
2024 Q1
CTNM
Contineum Therapeutics Inc. - Ordinary Shares
16 May 24
Quarterly report
5:01pm
A reconciliation of the Level 3 financial instruments from December 31, 2023 to March 31, 2024 is as follows (in thousands):
Preferred Stock Warrant Liability | ||||
Balance at December 31, 2023 | $ | 110 | ||
Change in fair value of preferred stock warrant liability | 117 | |||
Balance at March 31, 2024 | $ | 227 |
10-Q
2024 Q1
CTNM
Contineum Therapeutics Inc. - Ordinary Shares
16 May 24
Quarterly report
5:01pm
The Company estimated the fair value of stock options using the Black-Scholes valuation model. The Company accounts for any forfeitures of options when they occur. Previously recognized compensation expense for an award is reversed in the period that the award is forfeited. The fair value of stock options was estimated using the following weighted-average assumptions:
Three Months Ended March 31, | ||||||||
2024 | 2023 | |||||||
Assumptions: | ||||||||
Expected term (in years) | 5.94 | 6.08 | ||||||
Expected volatility | 111 | % | 90 | % | ||||
Risk free interest rate | 4.18 | % | 3.40 | % | ||||
Dividend yield | — | — |
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