Delaware
|
001-37568
|
26-4231384
|
(State or Other Jurisdiction of Incorporation or Organization)
|
(Commission File Number)
|
(I.R.S. Employer Identification No.)
|
300 Connell Drive, Suite 4000
Berkeley Heights, NJ
|
07922
|
(Address of Principal Executive Offices)
|
(Zip Code)
|
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12)
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Item 2.02 |
Results of Operations and Financial Condition
|
Item 9.01. |
Financial Statements and Exhibits
|
Exhibit
Number
|
Description
|
99.1
|
Press release dated February 21, 2019 announcing financial results for the full-year ended December 31, 2018.
|
Dated: February 21, 2019
|
Edge Therapeutics, Inc.
|
By:
|
/s/ Andrew Saik | |
|
Name: Andrew Saik
|
|
|
Title: Chief Financial Officer
|
Exhibit
Number
|
Description |
|
|
99.1 |
Press release dated February 21, 2019 announcing financial results for the full-year ended December 31, 2018. |
Year Ended December 31,
|
||||||||
2018
|
2017
|
|||||||
Operating expenses:
|
||||||||
Research and development expenses
|
$
|
16,068,769
|
$
|
34,311,650
|
||||
General and administrative expenses
|
14,291,008
|
17,654,970
|
||||||
Restructuring expenses
|
9,914,209
|
–
|
||||||
Impairment charges
|
2,822,581
|
–
|
||||||
Total operating expenses
|
43,096,567
|
51,966,620
|
||||||
Loss from operations
|
(43,096,567
|
)
|
(51,966,620
|
)
|
||||
Other income (expense):
|
||||||||
Interest income
|
871,879
|
700,903
|
||||||
Interest expense
|
(1,425,255
|
)
|
(2,180,143
|
)
|
||||
Loss before income taxes
|
(43,649,943
|
)
|
(53,445,860
|
)
|
||||
Benefit for income taxes
|
2,781,937
|
2,586,057
|
||||||
Net loss and comprehensive loss
|
$
|
(40,868,006
|
)
|
$
|
(50,859,803
|
)
|
||
Loss per share attributable to common stockholders basic and diluted
|
$
|
(1.31
|
)
|
$
|
(1.67
|
)
|
||
Weighted average common shares outstanding basic and diluted
|
31,242,176
|
30,393,952
|
December 31,
2018
|
December 31,
2017
|
|||||||
ASSETS
|
||||||||
Current assets:
|
||||||||
Cash and cash equivalents
|
$
|
34,645,549
|
$
|
88,067,647
|
||||
Prepaid expenses and other current assets
|
1,005,589
|
986,680
|
||||||
Total current assets
|
35,651,138
|
89,054,327
|
||||||
Property and equipment, net
|
426,952
|
3,423,880
|
||||||
Other assets
|
142,870
|
142,870
|
||||||
Total assets
|
$
|
36,220,960
|
$
|
92,621,077
|
||||
LIABILITIES AND STOCKHOLDERS' EQUITY
|
||||||||
LIABILITIES
|
||||||||
Current liabilities:
|
||||||||
Accounts payable
|
$
|
399,447
|
$
|
4,369,133
|
||||
Accrued expenses
|
419,119
|
5,422,205
|
||||||
Restructuring reserve
|
5,563,186
|
-
|
||||||
Short term debt
|
–
|
3,075,421
|
||||||
Total current liabilities
|
6,381,752
|
12,866,759
|
||||||
Noncurrent liability:
|
||||||||
Long term debt
|
–
|
17,382,907
|
||||||
STOCKHOLDERS' EQUITY
|
||||||||
Preferred stock, 5,000,000 shares authorized at December 31, 2018 and 2017, zero outstanding
|
–
|
–
|
||||||
Common stock, $0.00033 par value, 75,000,000 shares authorized at December 31, 2018 and December 31,
2017, 31,449,989 shares and 30,869,205 shares issued and outstanding at December 31, 2018 and December 31, 2017, respectively
|
10,591
|
10,400
|
||||||
Additional paid-in capital
|
222,644,982
|
214,309,370
|
||||||
Accumulated deficit
|
(192,816,365
|
)
|
(151,948,359
|
)
|
||||
Total stockholders' equity
|
29,839,208
|
62,371,411
|
||||||
Total liabilities and stockholders' equity
|
$
|
36,220,960
|
$
|
92,621,077
|