Delaware
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001-37568
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26-4231384
|
||
(State or Other Jurisdiction of Incorporation or Organization)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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☐
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)
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☐
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 2.02
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Results of Operations and Financial Condition
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Item 9.01. |
Financial Statements and Exhibits
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Exhibit
Number |
Description
|
|
|
99.1 |
Press release dated August 1, 2017 announcing financial results for the three months ended June 30, 2017.
|
Dated: August 1, 2017
|
Edge Therapeutics, Inc.
|
||
By:
|
/s/ Albert N. Marchio II
|
||
Name: Albert N. Marchio II
|
|||
Title: Chief Accounting and Administrative Officer, Interim Chief Financial Officer
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Exhibit
Number
|
Description
|
|
|
Press release dated August 1, 2017 announcing financial results for the three months ended June 30, 2017.
|
· |
Received from the European Medicines Agency a product-specific pediatric waiver for EG-1962 across all subsets of the pediatric population, which removes the requirement for pediatric clinical studies to support a marketing authorization application for EG-1962 in Europe.
|
· |
Signed a supply agreement with Oakwood Laboratories for the commercial manufacturing of EG-1962 for initial product launch and thereafter.
|
· |
Initiated a preclinical study of lumbar administration of EG-1962 in order to explore alternative routes of administration for aSAH patients, as well as to investigate EG-1962’s potential to address other serious conditions with high unmet need and few available treatment options.
|
· |
Secured $18 million in gross proceeds from a registered direct offering of common stock at a purchase price of $10.00 per share, a price that exceeded the closing price of Edge common stock on the date of the purchase agreement.
|
Three Months Ended June 30,
|
Six Months Ended June 30,
|
|||||||||||||||
2017
|
2016
|
2017
|
2016
|
|||||||||||||
Operating expenses:
|
||||||||||||||||
Research and development expenses
|
$
|
8,975,304
|
$
|
5,975,306
|
$
|
16,564,800
|
$
|
11,322,069
|
||||||||
General and administrative expenses
|
4,173,384
|
3,288,889
|
8,375,226
|
6,974,486
|
||||||||||||
Total operating expenses
|
13,148,688
|
9,264,195
|
24,940,026
|
18,296,555
|
||||||||||||
Loss from operations
|
(13,148,688
|
)
|
(9,264,195
|
)
|
(24,940,026
|
)
|
(18,296,555
|
)
|
||||||||
Other income (expense):
|
||||||||||||||||
Interest income
|
168,974
|
49,376
|
265,233
|
92,190
|
||||||||||||
Interest expense
|
(524,768
|
)
|
(161,310
|
)
|
(999,909
|
)
|
(342,174
|
)
|
||||||||
Net loss and comprehensive loss
|
(13,504,482
|
)
|
(9,376,129
|
)
|
(25,674,702
|
)
|
(18,546,539
|
)
|
||||||||
Loss per share basic and diluted
|
$
|
(0.44
|
)
|
$
|
(0.33
|
)
|
$
|
(0.86
|
)
|
$
|
(0.64
|
)
|
||||
Weighted average common shares outstanding basic and diluted
|
30,403,419
|
28,828,449
|
29,704,898
|
28,820,678
|
June 30, 2017
|
December 31, 2016
|
|||||||
ASSETS
|
(unaudited)
|
|||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
108,714,544
|
$
|
106,398,919
|
||||
Prepaid expenses and other current assets
|
636,939
|
954,581
|
||||||
Total current assets
|
109,351,483
|
107,353,500
|
||||||
Property and equipment, net
|
3,491,619
|
3,418,077
|
||||||
Other assets
|
142,870
|
142,870
|
||||||
Total assets
|
$
|
112,985,972
|
$
|
110,914,447
|
||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
LIABILITIES
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$
|
4,350,153
|
$
|
3,471,032
|
||||
Accrued expenses
|
4,154,019
|
3,213,715
|
||||||
Short term debt
|
3,086,296
|
-
|
||||||
Total current liabilities
|
11,590,468
|
6,684,747
|
||||||
Noncurrent liability:
|
||||||||
Long term debt
|
17,127,131
|
14,953,143
|
||||||
STOCKHOLDERS' EQUITY
|
||||||||
Preferred stock, 5,000,000 shares authorized at June 30, 2017 and December 31, 2016, 0 outstanding
|
-
|
-
|
||||||
Common stock, $0.00033 par value, 75,000,000 shares authorized at June 30, 2017 and December 31, 2016, 30,829,264 shares and 28,918,516 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively
|
10,386
|
9,756
|
||||||
Additional paid-in capital
|
211,021,245
|
190,341,769
|
||||||
Accumulated deficit
|
(126,763,258
|
)
|
(101,074,968
|
)
|
||||
Total stockholders' equity
|
84,268,373
|
89,276,557
|
||||||
Total liabilities and stockholders' equity
|
$
|
112,985,972
|
$
|
110,914,447
|