Tharimmune Inc
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
CNTN$2.06+6.7%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and December 31, 2023
CONDENSED CONSOLIDATED BALANCE SHEETS
| September 30, 2024 | December 31, | |
|---|---|---|
| (Unaudited) | 2023 | |
| ASSETS | ||
| Current assets | ||
| Cash and cash equivalents | $4,774,237 | $10,935,352 |
| Prepaid expenses and other current assets | 477,009 | 11,041 |
| Total current assets | 5,251,246 | 10,946,393 |
| Total assets | $5,251,246 | $10,946,393 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities | ||
| Accounts payable | $783,839 | $908,577 |
| Accrued expenses | 1,369,090 | 906,469 |
| Insurance premium financing liability | 80,768 | - |
| Total current liabilities | 2,233,697 | 1,815,046 |
| Total liabilities | 2,233,697 | 1,815,046 |
| Commitments and contingencies (see Note 5) | - | - |
| Stockholders’ equity | ||
| Preferred stock, $0.0001 par value, 10,000,000 shares authorized, no shares issued and outstanding as of September 30, 2024 and December 31, 2023 | - | - |
| Common stock, $0.0001 par value, 250,000,000 shares Authorized, 1,284,287 shares and 884,720 shares issued and 1,284,041 shares and 884,474 shares outstanding as of September 30, 2024 and December 31, 2023, respectively* | 129 | 89 |
| Additional paid-in capital | 36,167,929 | 33,904,749 |
| Accumulated deficit | (33,080,544) | (24,703,526) |
| Treasury stock, at cost, 246 shares held in treasury as of September 30, 2024 and December 31, 2023 | (69,965) | (69,965) |
| Total stockholders’ equity | 3,017,549 | 9,131,347 |
| Total liabilities and stockholders’ equity | $5,251,246 | $10,946,393 |
| * | Amounts have been retroactively restated to reflect the 1-for-15 reverse stock split effectuated on May 24, 2024 (See Note 2 to the condensed consolidated financial statements). |
|---|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
| For the Three Months Ended September 30, | For the Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Operating expenses | ||||
| Research and development | $2,281,827 | $488,177 | $4,306,638 | $2,566,910 |
| General and administrative | 1,583,744 | 1,356,893 | 4,279,690 | 4,357,154 |
| Total operating expenses | 3,865,571 | 1,845,070 | 8,586,328 | 6,924,064 |
| Loss from operations | (3,865,571) | (1,845,070) | (8,586,328) | (6,924,064) |
| Other income (expense) | ||||
| Interest expense | (3,009) | (3,496) | (12,926) | (16,151) |
| Interest income | 72,728 | 28,451 | 222,236 | 94,898 |
| Total other income, net | 69,719 | 24,955 | 209,310 | 78,747 |
| Net loss | $(3,795,852) | $(1,820,115) | $(8,377,018) | $(6,845,317) |
| Net loss per share: | ||||
| Basic and diluted | $(2.45) | $(39.42) | $(7.39) | $(175.50) |
| Weighted average number of common shares outstanding*: | ||||
| Basic and diluted | 1,547,324 | 46,169 | 1,133,236 | 39,004 |
| * | Amounts have been retroactively restated to reflect the 1-for-15 reverse stock split effectuated on May 24, 2024 (See Note 2 to the condensed consolidated financial statements). |
|---|
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023
| Common Stock · Additional Paid-in · Accumulated · Treasury Stock | |||||||
|---|---|---|---|---|---|---|---|
| Shares | Amount | Capital | Deficit | Shares | Amount | Total | |
| For the three months ended September 30, 2023: | |||||||
| Balance, June 30, 2023 | 45,135 | $5 | $23,548,672 | $(20,409,634) | 246 | $(69,965) | $3,069,078 |
| Stock issuance pursuant to services agreement | 1,861 | - | 350,000 | - | - | - | 350,000 |
| Net loss | - | - | - | (1,820,115) | - | - | (1,820,115) |
| Stock based compensation | - | - | 157,960 | - | - | - | 157,960 |
| Balance, September 30, 2023 | 46,996 | $5 | $24,056,632 | $(22,229,749) | 246 | $(69,965) | $1,756,923 |
| For the nine months ended September 30, 2023: | |||||||
| Balance, December 31, 2022 | 31,001 | $3 | $20,998,049 | $(15,384,432) | 246 | $(69,965) | $5,543,655 |
| Stock issuance pursuant to services agreement | 1,861 | - | 350,000 | - | - | - | 350,000 |
| Public offering, net of issuance costs of $602,834 | 14,134 | 2 | 2,047,164 | - | - | - | 2,047,166 |
| Net loss | - | - | - | (6,845,317) | - | - | (6,845,317) |
| Stock based compensation | - | - | 661,419 | - | - | - | 661,419 |
| Balance, September 30, 2023 | 46,996 | $5 | $24,056,632 | $(22,229,749) | 246 | $(69,965) | $1,756,923 |
| For the three months ended September 30, 2024: | |||||||
| Balance, June 30, 2024 | 1,095,346 | $111 | $36,048,454 | $(29,284,692) | 246 | $(69,965) | $6,693,908 |
| Issuance costs related to Form S-3 Registration Statement | - | - | (72,450) | - | - | - | (72,450) |
| Cashless exercise of pre-funded warrants | 188,941 | 18 | (18) | - | - | - | - |
| Net loss | - | - | - | (3,795,852) | - | - | (3,795,852) |
| Stock based compensation | - | - | 191,943 | - | - | - | 191,943 |
| Balance, September 30, 2024 | 1,284,287 | $129 | $36,167,929 | $(33,080,544) | 246 | $(69,965) | $3,017,549 |
| For the nine months ended September 30, 2024: | |||||||
| Balance, December 31, 2023 | 884,720 | $89 | $33,904,749 | $(24,703,526) | 246 | $(69,965) | $9,131,347 |
| Stock issuance pursuant to services agreement | 3,334 | 1 | 20,549 | - | - | - | 20,550 |
| Private investment in public equity offering, net of issuance costs of $268,250 | 207,292 | 21 | 1,815,890 | - | - | - | 1,815,911 |
| Issuance costs related to Form S-3 Registration Statement | - | - | (72,450) | - | - | - | (72,450) |
| Cashless exercise of pre-funded warrants | 188,941 | 18 | (18) | - | - | - | - |
| Net loss | - | - | - | (8,377,018) | - | - | (8,377,018) |
| Stock based compensation | - | - | 499,209 | - | - | - | 499,209 |
| Balance, September 30, 2024 | 1,284,287 | $129 | $36,167,929 | $(33,080,544) | 246 | $(69,965) | $3,017,549 |
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