Delaware | 001-38381 | 46-1385614 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
Item 2.02 | Results of Operations and Financial Condition. |
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits. |
Exhibit Number | Description | |
Evolus, Inc. | ||
Dated: May 10, 2018 | /s/ David Moatazedi | |
David Moatazedi | ||
President and Chief Executive Officer |
• | Raised gross proceeds of approximately $60.6 million through the sale of 5,047,514 shares of common stock at a price of $12.00 per share in an initial public offering; |
• | Presented European and Canadian Phase III EVB-003 head-to-head comparative trial data at the American Academy of Dermatology 2018 Annual Meeting, the 2018 Aesthetic and Anti-Aging Medicine World Congress and The Aesthetic Meeting, hosted by The American Society of Aesthetic Plastic Surgery. |
• | Appointed David Moatazedi as President and Chief Executive Officer |
Three Months Ended March 31, | |||||||
2018 | 2017 | ||||||
Operating expenses: | |||||||
Research and development | $ | 1,678 | $ | 2,651 | |||
General and administrative | 3,467 | 1,215 | |||||
Revaluation of contingent royalty obligation payable to related party | 900 | — | |||||
Depreciation and amortization | — | 111 | |||||
Total operating expenses | 6,045 | 3,977 | |||||
Loss from operations | (6,045 | ) | (3,977 | ) | |||
Other expense: | |||||||
Interest expense, net | 107 | 1 | |||||
Loss before taxes | (6,152 | ) | (3,978 | ) | |||
Income tax expense | 10 | 20 | |||||
Net loss and comprehensive loss | $ | (6,162 | ) | $ | (3,998 | ) | |
Net loss per share, basic and diluted | $ | (0.30 | ) | $ | (0.24 | ) | |
Weighted-average shares outstanding used to compute basic and diluted net loss per share | 20,226,460 | 16,527,000 |
March 31, 2018 | December 31, 2017 | ||||||
(unaudited) | |||||||
ASSETS | |||||||
Current assets | |||||||
Cash and cash equivalents | $ | 49,570 | $ | — | |||
Prepaid expenses and other current assets | 541 | 185 | |||||
Related party receivable | — | 72,639 | |||||
Total current assets | 50,111 | 72,824 | |||||
Intangible asset | 56,076 | 56,076 | |||||
Goodwill | 21,208 | 21,208 | |||||
Other assets | — | 2,125 | |||||
Total assets | $ | 127,395 | $ | 152,233 | |||
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | |||||||
Current Liabilities | |||||||
Accounts payable | $ | 547 | $ | 445 | |||
Related party accounts payable | 730 | — | |||||
Related party borrowings | — | 72,639 | |||||
Accrued expenses | 2,352 | 977 | |||||
Note obligation | — | 138,687 | |||||
Total current liabilities | 3,629 | 212,748 | |||||
Deferred rent | 35 | 38 | |||||
Contingent royalty obligation payable to related party | 40,600 | — | |||||
Contingent promissory note payable to related party | 16,149 | — | |||||
Deferred tax liability | 15,000 | 14,990 | |||||
Total liabilities | 75,413 | 227,776 | |||||
Commitments and contingencies | |||||||
Stockholders’ equity (deficit) | |||||||
Convertible Series A Preferred, $0.00001 par value; no shares authorized; 0 and 1,250,000 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively | — | — | |||||
Preferred Stock, $0.00001 par value; 10,000,000 shares authorized; no shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively | — | — | |||||
Common Stock, $0.00001 par value; 100,000,000 shares authorized; 23,640,389 and 16,527,000 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively | 1 | — | |||||
Additional paid-in capital | 134,301 | — | |||||
Accumulated deficit | (82,320 | ) | (75,543 | ) | |||
Total stockholders’ equity (deficit) | 51,982 | (75,543 | ) | ||||
Total liabilities and stockholders’ equity (deficit) | $ | 127,395 | $ | 152,233 |
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