Delaware
|
001-37568
|
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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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)
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☐
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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.
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Financial Statements and
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Exhibits Number
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Description
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99.1
|
Press release dated May 1, 2018 announcing financial results for the three months ended March 31, 2018.
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Dated: May 1, 2018
|
Edge Therapeutics, Inc.
|
||
By:
|
/s/ Andrew Saik | ||
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Name: Andrew Saik
|
||
Title: Chief Financial Officer
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Exhibit
Number
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Description
|
Press release dated May 1, 2018 announcing financial results for the three months ended March 31, 2018.
|
Three Months Ended March 31,
|
||||||||
2018
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2017
|
|||||||
Operating expenses:
|
||||||||
Research and development expenses
|
$
|
12,742,085
|
$
|
7,589,496
|
||||
General and administrative expenses
|
4,681,516
|
4,201,842
|
||||||
Impairment charges
|
2,672,581
|
-
|
||||||
Total operating expenses
|
20,096,182
|
11,791,338
|
||||||
Loss from operations
|
(20,096,182
|
)
|
(11,791,338
|
)
|
||||
Other income (expense):
|
||||||||
Interest income
|
246,639
|
96,259
|
||||||
Interest expense
|
(990,560
|
)
|
(475,141
|
)
|
||||
Net loss and comprehensive loss
|
$
|
(20,840,103
|
)
|
$
|
(12,170,220
|
)
|
||
Loss per share basic and diluted
|
$
|
(0.67
|
)
|
$
|
(0.42
|
)
|
||
Weighted average common shares outstanding basic and diluted
|
30,965,874
|
28,998,616
|
||||||
March 31, 2018
|
December 31, 2017
|
|||||||
ASSETS
|
(unaudited)
|
|||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
74,996,609
|
$
|
88,067,647
|
||||
Prepaid expenses and other current assets
|
917,065
|
986,680
|
||||||
Total current assets
|
75,913,674
|
89,054,327
|
||||||
Property and equipment, net
|
552,757
|
3,423,880
|
||||||
Other assets
|
142,870
|
142,870
|
||||||
Total assets
|
$
|
76,609,301
|
$
|
92,621,077
|
||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
LIABILITIES
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$
|
2,957,284
|
$
|
4,369,133
|
||||
Accrued expenses
|
8,472,881
|
5,422,205
|
||||||
Short term debt
|
20,900,000
|
3,075,421
|
||||||
Total current liabilities
|
32,330,165
|
12,866,759
|
||||||
Noncurrent liability:
|
||||||||
Long term debt
|
-
|
17,382,907
|
||||||
STOCKHOLDERS' EQUITY
|
||||||||
Preferred stock, 5,000,000 shares authorized at March 31, 2018 and December 31, 2017, 0 outstanding
|
-
|
-
|
||||||
Common stock, $0.00033 par value, 75,000,000 shares authorized at March 31, 2018 and December 31, 2017, 31,246,231 shares and 30,869,205 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively
|
10,524
|
10,400
|
||||||
Additional paid-in capital
|
217,057,074
|
214,309,370
|
||||||
Accumulated deficit
|
(172,788,462
|
)
|
(151,948,359
|
)
|
||||
Total stockholders' equity
|
44,279,136
|
62,371,411
|
||||||
Total liabilities and stockholders' equity
|
$
|
76,609,301
|
$
|
92,621,077
|
||||